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Can Bitcoin break out vs. tech stocks again? Nasdaq decoupling paints $100K target

Published 02/20/2022, 08:25 AM
Updated 02/20/2022, 10:00 AM
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A potential decoupling scenario between Bitcoin (BTC) and the Nasdaq Composite can push BTC price to reach $100,000 within 24 months, according to Tuur Demeester, founder of Adamant Capital.

Demeester depicted Bitcoin's growing market valuation against the tech-heavy U.S. stock market index, highlighting its ability to break out every time after a period of strong consolidation.

BTC/USD vs. Nasdaq Composite weekly price chart. Source: Tuur Demeester, StockCharts.com
BTC/USD versus Nasdaq Composite monthly price chart. Source: TradingView
Bitcoin and tech stocks price performance since. September 2017. Source: Bloomberg

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