In keeping with analyst Charlie Morris, Bitcoin, the main cryptocurrency, has reached a brand new document excessive relative to the tech-heavy Nasdaq index.
The ratio of Bitcoin to Nadsaq futures (the “BitDAQ ratio”) is now at its new peak, surging above 5.
This basically signifies that one Bitcoin is value 5 instances the worth of a single Nasdaq futures contract.
Bitcoin, which tends to be correlated with conventional tech, has considerably outperformed this sector by appearing as a secure haven asset.
As reported by U.Right this moment, the cryptocurrency has reached $103,000, hitting its highest stage in 4 months.