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For quite some time we’ve treated Bitcoin and many Altcoins as just more stocks to choose from.
More specifically, we can argue they might be software stocks, or Tech stock of some kind.
At the very least, we’ve agreed that they’re in the growth category and part of that long-duration trade.
And the correlations have been there to justify it.
So the divergence we’ve seen lately really stands out.
Regardless of market capitalization, you can see the growth stocks holding on to their June lows, but Bitcoin and many Altcoins have not.
They’ve gone on to make lower lows: