The IGV software sector ETF (blue) and bitcoin (red) move in unison like Fred and Ginger. He's dancing for his dinner. No wonder people were thinner years ago. Nowadays, folks lay around eating junk food and tapping a keyboard with greasy fingers.
The blue (representing the software sector) and red lines (bitcoin) move in sync and the green line was added that is Blue Owl that is blamed for instigating nasty action in the private equity stocks that are crashing this year. Blue Owl peaked in the summertime and has been a piece of garbage ever since.
The larger purple box shows a divergence occurring in the price action. Software is moving flat and actually peaking in this box in September/October. Note that Blue Owl is getting tossed overboard, the green line goes down, and at the same time the red line moves up. The money from Blue Owl goes into bitcoin.
The second box same idea. The software spankdown is in progress at the end of last year into this year so the blue line drops like a rock. Bitcoin rises at the same time so those traders pulling money from software plays were sticking some of it into bitcoin figuring the selloff in the crypto currencies has run its course. Not so.
This year, bitcoin, software and private equity are in sync taking a ride together on the Highway to Hell. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.
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