Now before you immediately try and knock any comparison, this is purely about recent trading movement in the stocks and BTC futures. This is extremely important now there are some reasons to compare. On the chart, Bitcoin will be the pink line, while the green line is FB. 

Facebook announced they are creating their own cryptocurrency called the “Libra”. Some have said it will disrupt the world’s currency, while others say it will die out as a fad. I say investors are way more bullish than bearish on the idea. Pretty easy to see as both BTC and FB has gone up since the news. The most important aspect is the symmetry and correlation we are now seeing. Is it BTC moving FB higher or is FB leading the way for BTC? Truthfully, it seems both have a positive influence on each other and are bringing investors into both products. Might I remind you how OSTK performed a couple of years back? The stock price nearly quadrupled in a calendar year thanks to the huge rise in BTC. Square Inc. (Ticker: SQ) also saw BTC help lift the stock price higher, but SQ kept going while BTC tanked. This leads me to FB. I am unsure FB will continue to chug along in the markets in correlation with BTC, but we could see both move higher in sync with each other.

It is very fascinating a major corporation like FB is going this route, but it is also clear that a lot of Wall Street believe Crypto is the future. If any company out there that has the power to successfully integrate crypto into our everyday lives, it is the one and only FB. Mind you, AAPL could jump into this foray also with a Crypto wallet in iPhones like their competitors already have. I would love to see a partnership with AAPL and FB, but that is what dreams are made of. We can all dream, can’t we? 

Follow me on Twitter: @DiscipleOfTrend

about the author:

Charles Moon

Charles Moon is a technical "whiz kid" whose experience lies in scalp/swing trading. A patient educator, Charles excels at coaching/mentoring and can make complex concepts simple. Prior to joining the ranks of Prosper Trading Academy, Charles was a proprietary equities trader with Great Point Capital LLC. Coming from a retail trading background, his experience can help those with no experience trading to seasoned veterans.

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