Naal [he/him]

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Joined 5 years ago
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Cake day: September 21st, 2020

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  • short answer: yes a lot of the top performers in crypto this cycle are AI projects (fartcoin, ai16z, virtuals, aixbt) which have been going up for the last 4 months.

    long answer: crypto prices have been going up since late 2022. The higher the prices get, the higher the volatility. People are so deep in profit that mentally they start looking for reasons to sell. So any bad news, which would be shrugged off on the way up, becomes the final catalyst for them to sell. So really, the price is volatile because it’s so high, not because of any specific news event. This same principle can be applied to Nvidia.

    Also here’s the correlation between bitcoin and the NASDAQ:

    If they were correlated 1:1, it would be a flat line. But bitcoin actually tremendously outperforms, at least since 2020.