NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30

Pompliano: Bitcoin Could Fall Under $3,000, But It Remains Non-Correlated

Nick Chong
Nick Chong
1 year ago
3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

As traditional equities have plummeted in value, especially Nasdaq-based technology stocks, interestingly, so has the Bitcoin (BTC) market. This seeming correlation was most recently exemplified by crypto’s tumble on Christmas Eve, as BTC fell from $4,200 to $3,800 as industry commentators were claiming that a “Santa Claus rally” was nigh. Other digital assets followed, with Ethereum (ETH) quickly posting a double-digit loss as it trailed behind the flagship crypto.

During the same trading session, worldwide macro markets purportedly saw their worst Christmas Eve since the Great Depression, with the Dow Jones Industrial Average losing 2.25 percent in a day’s time. The freefall wasn’t isolated to U.S. markets, however, as Japan’s Nikkei 225 collapsed by 1,000 points, a five percent loss, and a move which made global investors trepid en-masse.

Related Reading: Top Tech Stocks Lost More Than Entire Crypto Market Since All-Time High

Yet, for the longest time, Bitcoin’s cardinal narrative is that its day-to-day action shouldn’t be reminiscent of traditional markets. So, it should come as no surprise that Andrew Sorkin, a prominent journalist and CNBC anchor, called crypto’s non-correlated nature into question during a recent installment of “Squawk Box.”

Bitcoin Is Non-correlated, Christmas Crash Was Just a Coincidence

And who better to ask than one Anthony Pompliano, a former Snapchat and Facebook growth team member turned crypto diehard, who now heads Morgan Creek Digital. On Boxing Day’s Squawk Box episode, Pompliano, better known as Pomp to his followers, claimed that Bitcoin is “definitely” a non-correlated asset. Referencing data compiled by Morgan Creek, which NewsBTC cited in a recent report on Bitcoin’s role in pension funds, Pomp noted that the correlation between BTC and the S&P 500 is near-zero. The investor even added this is much of the same with the U.S. dollar index.

Today's CNBC segment:

– Bitcoin is uncorrelated to stocks
– Supply & demand economics work
– Long Bitcoin, Short the Bankers

The message won't change. Onward!https://t.co/MqJ1LEZnKa

— Pomp 🌪 (@APompliano) December 26, 2018

Sorkin, taking Pomp’s comments with a grain of salt, claimed that he believes that cryptocurrency holders “have a lot of money in FANG stocks, technology stocks — [so] they’re the first movers.” Explaining why this is relevant, the reporter claimed that the decline in markets en bloc could be investors trying to de-risk their portfolios by liquidating their Nasdaq stocks and cryptocurrencies — both deemed relatively risky investments — simultaneously.

The Morgan Creek lead, doubling down on his aforementioned comments, rebutted by simply stating that “the data is the data.” Continuing on about Bitcoin’s non-correlated theme, Pomp noted that forward-thinking investors should allocate one or two percent into Bitcoin, likely touching on the asymmetric risk/return profile that has become crypto’s calling card.

Another CNBC host backed Pomp’s claim, noting that astute pundits have claimed that Bitcoin’s most recent cycle could have foretold the equity markets’ boom and bust, as BTC is often classified as the epitome of a risk-on asset.

Crypto Still Nascent, May Falter In The Short-term

While Pomp is evidently bullish on cryptocurrencies for the long haul, the prominent investor noted that BTC could continue lower over the short-term, adding that sub-$3,000 is a possibility. Although such a claim could be seen as a bearish signal, this sentiment isn’t unheard of. Michael Bucella, for instance, told CNBC’s “Fast Money” that cryptocurrencies have one leg lower to go in its year-long “distress cycle.” But, the BlockTower partner noted that the “smartest money is still moving into” crypto, before explaining that he has high hopes for this industry, even while his outlook on the market may not reflect that.

In closing, Pomp took a moment to draw attention to crypto’s anti-establishment overtones, quipping that a popular phrase in the industry (popularized by himself) is, “long Bitcoin, short the bankers.” The Morgan Creek representative noted that when you boil cryptocurrencies down, they’re driven by math and software, rather than the nefarious individuals that can plague traditional industries. This is, of course, crypto’s underlying value proposition, and this industry’s fundamental narrative since its earliest days, or blocks if you will.

Featured Image from Shutterstock
Tweet123Share196ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

WLFI

WLFI: The Next Cult Coin? Analyst Outlines Potential For Explosive Growth

The recent debut of the World Liberty Financial token (WLFI) in the cryptocurrency market has generated considerable buzz, despite facing...

Ronaldo Marquez 3 hours ago
ethereum

Ethereum’s Latest Rally Fueled By Large-Scale Binance Orders, Analyst Says

Fresh data from Binance shows that Ethereum (ETH) average order size has been trending upward since late July 2025, signaling...

Ash Tiwari 4 hours ago
Bitcoin

Metaplanet Becomes A Global Bitcoin Powerhouse with 20,000 BTC Hoard, More Buys Ahead?

In a notable achievement, Metaplanet has made headlines by significantly expanding its Bitcoin treasury, reaching a total of 20,000 BTC....

Godspower Owie 5 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin Price Recovery Hopes Rise

Bitcoin Price Recovery Hopes Rise – Can Bulls Push It Past Resistance?

Aayush Jindal 23 minutes ago
Solana SOL SOLUSD

Solana Bulls Eye $300 as Alpenglow Upgrade Sparks Institutional Interest

James Halver 40 minutes ago
Mastercard

Mastercard Stresses Crypto Is An Enhancement, Not A Substitute

Christian Encila 1 hour ago

Premium Sponsors

Press Releases

  • 12億ドルの売り越し、市場は調整局面に突入か?

    イーサリアム...

    5 hours ago
  • ビットコイン...

    6 hours ago
  • シバコイン 今後の行方

    シバコイン...

    6 hours ago
  • パイネットワーク...

    6 hours ago
  • 1 najbolja kriptovaluta za kupiti prije nego što poraste za 3.536%, prema Cathie Wood (ARK Invest)

    1 najbolja kriptovaluta za kupiti prije nego što poraste...

    7 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.