{"id":6620,"date":"2023-05-23T00:13:34","date_gmt":"2023-05-23T00:13:34","guid":{"rendered":"https:\/\/www.bitrabo.com\/community\/why-nvidia-stock-reaching-all-time-highs-could-mean-bitcoin-is-next\/"},"modified":"2023-05-23T00:13:56","modified_gmt":"2023-05-23T00:13:56","slug":"why-nvidia-stock-reaching-all-time-highs-could-mean-bitcoin-is-next","status":"publish","type":"post","link":"https:\/\/www.bitrabo.com\/discover\/why-nvidia-stock-reaching-all-time-highs-could-mean-bitcoin-is-next\/","title":{"rendered":"Why Nvidia Stock Reaching All-Time Highs Could Mean Bitcoin Is Next"},"content":{"rendered":"\n<div>\n<p>Recent observations and charts suggest a possible correlation between Bitcoin and Nvidia that can lead the cryptocurrency to revisit above $60,000 per coin. Nvidia has been surprising stock market bears by revisiting all-time highs set back in 2021 and has been leading the way in powering AI models, such as ChatGPT, thereby playing a critical role in the Nasdaq 100 Index. The correlation between Nvidia and Bitcoin goes back a decade, indicating that there might be a significant amount of volatility in the near future. <\/p>\n<p>If the correlation continues, Bitcoin could climb as high as $60,000 per BTC. However, the correlation between the two assets is not guaranteed to persist in the long run. Historically there is a strong correlation between BTCUSD and NVDA, but it appears to break when Bitcoin makes a short-term peak. <\/p>\n<p>The probability that BTCUSD reaches new highs is high if NVDA continues to break records. There is buzz surrounding AI that could trigger a dot com-like boom in tech stocks. This could spill into the crypto space, adding breadth to financial markets. Although it&#8217;s too early to say for sure, the history of correlation hints at a possible outcome. <\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Recent observations and charts suggest a possible correlation between Bitcoin and Nvidia that can lead the cryptocurrency to revisit above $60,000 per coin. Nvidia has been surprising stock market bears by revisiting all-time highs set back in 2021 and has been leading the way in powering AI models, such as ChatGPT, thereby playing a critical [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":6622,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Why Nvidia Stock Reaching All-Time Highs Could Mean Bitcoin Is Next - Bitrabo","description":"Recent observations and charts suggest a possible correlation between Bitcoin and Nvidia that can lead the cryptocurrency to revisit above $60,000 per coin. Nvi"},"footnotes":""},"categories":[316],"tags":[758,448,759,755,757,756],"class_list":["post-6620","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-alltime","tag-bitcoin","tag-highs","tag-nvidia","tag-reaching","tag-stock"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/6620","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=6620"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/6620\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/6622"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=6620"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=6620"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=6620"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}