Nvidia’s Unique Correlation: Beyond Semiconductors, Tied to Bitcoin and Social Mood Trends

January 9, 2024 2:52 pm by CWR

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Nvidia is massively correlated to Bitcoin due to the fact that their semiconductors are also used for Bitcoin mining.

But, the real correlation is via glue sniffing social mood.

Last seen at the 2021 Bitcoin all time high. pic.twitter.com/TMf7twgGEY

— Mac10 (@SuburbanDrone) January 8, 2024

We're looking for a reversal of fortune in the only mega cap Tech stock still making new highs.

The Magnificent 1. pic.twitter.com/P4SKdbMGpT

— Mac10 (@SuburbanDrone) January 9, 2024

See also Leveraged bets on Bitcoin, Tesla, Nvidia, Adani foreshadow a looming global margin call; Nvidia below $140 becomes problematic. Won't be long.

See also MicroStrategy is no longer a true business; it's primarily a leveraged bet on Bitcoin. Soon, ETF investors will have to buy at least $2.1 billion worth of its shares.