This correlation formed because of the Institutional Money. Or, in other words, cryptosphere became dominated by people who are merely interested in profit rather by those who see it as practical solution to their financial problems or a way to create brand new world of personal freedom.
Correlation will end when Institutional Money leaves the crypto market and/or when an average investor realises that Bitcoin can serve practical purpose that Netflix stock can't.
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Can't agree anymore. I am also waiting for that fresh impetus that could decouple it from the traditional market and rally on its own. Thank you.
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At least in theory, a grocery store can accept payment for milk Bitcoin, Hive, Dogecoin, or even CUB. The grocery store will not accept payment for milk in Netflix or Amazon stocks.
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Yes but I don't see institutional money leaving the market. They have the fiat money and they can exert their influence as they see fit.
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