Fellow analyst on Trading View #TradingShot brought up an interesting analysis on the notion correlation of BTC with the DXY (U.S. Dollar) and M1 (Money Supply).
His view from December 2019 to today seemed to give room for speculation on a possible correlation.
Intrigued by this idea I compared the three in separate panes and on the weekly view starting July 2012.
Money supply has been steadily growing and with the "Corona crisis" just had an extra spike.
So then that leaves the point about maybe the Dollars strength influencing the value of Bitcoin.
While there may be some truth to that there is no long term connection.
In 2018 and 2019 the dollar grew stronger against the DXY basket currencies yet Bitcoin was able to rise from the ashes and also regain value.
Still on the gut feeling there just maybe something there to explore further.
Thanks #TradingShot
His view from December 2019 to today seemed to give room for speculation on a possible correlation.
Intrigued by this idea I compared the three in separate panes and on the weekly view starting July 2012.
Money supply has been steadily growing and with the "Corona crisis" just had an extra spike.
So then that leaves the point about maybe the Dollars strength influencing the value of Bitcoin.
While there may be some truth to that there is no long term connection.
In 2018 and 2019 the dollar grew stronger against the DXY basket currencies yet Bitcoin was able to rise from the ashes and also regain value.
Still on the gut feeling there just maybe something there to explore further.
Thanks #TradingShot
註釋
The link to TradingShot's analysis 
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這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。