On March 17th, NIA sent out an alert showing how Bitcoin is most correlated to the Triple Leveraged NASDAQ ETF known as ProShares UltraPro QQQ (TQQQ).
NIA explained how Bitcoin was trading for 1158X the price of TQQQ and how the six-year average Bitcoin price is 659X the price of TQQQ.
NIA predicted that the Bitcoin/TQQQ ratio would return to 659 in the short-term.
Since March 17th, Bitcoin has declined by 17.11% vs. TQQQ gaining by 37.45%. The Bitcoin/TQQQ ratio has declined back down to 695.
Over the last two years, NIA has been predicting that Bitcoin will decline dramatically when the Japanese Mt Gox trustee begins paying out Bitcoin to former Mt Gox customers (victims). After countless delays, these payouts are about to take place in the days ahead. This new Bitcoin supply reentering the market is much more meaningful than any small reduction in newly printed Bitcoin from the recent halving.
Preparing Americans for Hyperinflation
