Bitcoin Conic Harmonic

2021年5月26日

Bitcoin is the crypto market, there is no other way to define it. Where it goes the market follows. When volatility remais between 2 normalized standard deviations, the market is fairly mutually exclusive; that is, money moves from one holding to another with speculative sentiment. Now when someone like Elon Musk goes ahead and makes haphazard allegations that impact the price of BTC, the market is bound to follow. Correlations average over .90 over all assets when BTC is in free-fall or upward swing. While the BTC ledger validation procedure of PoW has some environmental and social implications, the free-market is gradually adjusting to accommodate for negative externalities (e.g., shrewd miners are establishing infrastructure in places like Canada were renewable energy is cheap).