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

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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.

Bitcoin outperforms tech stocks

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. 

“It may do so again within the coming 24 months,” he wrote, citing the attached chart below.

BTC/USD vs. Nasdaq Composite weekly price chart. Source: Tuur Demeester, StockCharts.com

BTC’s price has grown from a mere $0.06 to as high as $69,000 more than a decade after its introduction to the market, as per data tracked by the BraveNewCoin Liquid Index for Bitcoin (BLX).

BTC/USD versus Nasdaq Composite monthly price chart. Source: TradingView

That amounted to around a 64.50 million percent increase in Bitcoin’s price since 2010. In comparison, Nasdaq’s…

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