Plan B: Bitcoin's significant deviation from the correlation between the stock market and gold remains to be seen whether it will repeat its 10x price...
TL;DR
PlanB notes Bitcoin's price at ~$87,500 deviates from historical correlations with US stocks and gold, suggesting a 'decoupling' that previously led to 10x gains. However, if the correlation is broken, this cycle may differ, requiring further verification.
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On December 27th, PlanB posted an article stating that Bitcoin's current price is around $87,500, significantly deviating from its historical correlation range with US stocks and gold. Based on past correlation calculations, the corresponding Bitcoin price ranges for US stocks and gold are approximately $6,900 and $4,500 respectively, indicating that BTC is in a significant "decoupling" state.
PlanB points out that similar correlation divergences occurred when Bitcoin was below $1,000, ultimately triggering a roughly 10-fold increase. However, he also cautions that if the correlation has been structurally broken, this round of price movements may differ from historical patterns, and the final outcome still needs time to be verified.