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Bitcoin looks a lot more like a high risk tech stock

lieutenantdan - 2024-08-01 21:21:51

Store of value out the window


Bitcoin looks a lot more like a high risk tech stock currently.


Here it is compared with NVDA:


image.png


(Source: https://x.com/Mysteryofcrypt/status/1818981997655499100/photo/1)


The charts and the patterns look pretty similar.


I would assume this correlation is going to hold up for some time.


Gold chart looks much different than bitcoin and the others.


That means that it is a high risk tech stock now.