The famous analyst Nicholas Merten thinks that there is a very important chart related to () that no one is talking about at the moment.

In a new video, analyst speak with its 515,000 YouTube subscribers that chart against the stock market index which is currently showing a long-term bullish pattern.

Merten explains that common sense of Bitcoin is a risky asset that would lead people to believe that will be sold off two to three times stronger than stocks during a time of quantitative tightening by the US Federal Reserve.

However that did not happen. He pointed to the chart BTC/Nasdaq Composite (BTCUSD/IXIC) for proof.

“Look at this chart. Since December 2020, this ratio has consistently made [higher lows]. To accomplish this, from the previous low of November-December to the most recent low, the rate has increased by 48%. Bitcoin 48% outperforms stocks.”


BTCUSD/IXIC 3-Day Chart | Source: Nicholas Merten

Merten emphasized that Bitcoin can be a “resilient horse” during economic downturns.

“Even when stocks are in absolute panic mode, Bitcoin Still working pretty well. It is making slightly higher lows and higher highs since the beginning of the year. That is really interesting. It is something that cannot be ignored.”

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The analyst says Bitcoin is building a basis for possibly decoupling from its correlation with equities.

Bitcoin is trading at $38,947 at press time, down by nearly 3.9% over the past 24 hours.

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