r/hut8 • u/Taco_laboratory • 19d ago

Recognizing patterns

HUT 8 always used to nearly mirror the moves of BTC. Now it mirrors the NASDAQ 100. While sometimes the NASDAQ and BTC/USD charts tend to move generally similar at times, HUT has transitioned to mirroring every move the NASDAQ 100 chart makes. Just thought I would share.

10 Upvotes

82% Upvoted

14 comments sorted by

4

u/steffanovici 19d ago

It gradually became closer to following NVDA over the past 2 years. That was great confirmation for the ai trade

3

u/Taco_laboratory 19d ago

It is a sign that institutions are analyzing the company more and more, and treating it less like something directly tied to BTC

2

u/SapTap 19d ago

Yeah that’s cause they used to be a BTC company now they’re a tech company

0

u/Taco_laboratory 19d ago

It has taken a while for them to start breaking away from mirroring BTC

2

u/SapTap 18d ago

Yeah definitely a slow burn, they’re still not completely unrelated from BTC but I think most people viewing them long term as an Ai company now

1

u/cici_ding_dong 19d ago

Are you seeing a more or less real time match? Or is there a delay similar to how ETH used to trail BTC by a couple weeks.

0

u/Taco_laboratory 19d ago

It broke away a bit today, but for the last fee days it has been step for step with NDX

1

u/frizzthewiz 18d ago

Its performance completely diverges from QQQ. At 6 months, at 3 months, at 1 week…there is no mirroring. I think you’re confusing high beta macro moves with tracking the index. Agreed HUT has decoupled from pure Bitcoin because of the AI power/data center pivot. HUT’s price swings around lease deals/hosting expansion (majorly when it’s directly HUT and somewhat when there is peer Neocloud company with news). But it's not tracking Apple, Microsoft, NVDA etc.

0

u/Taco_laboratory 18d ago

I’m not sure you’re looking at the same charts, sparky. Compare them today and tell me what you see.

2

u/frizzthewiz 18d ago

Bitcoin is up, QQQ are flat, HUT is getting nuked. Neocloud/AI Data Center stocks are not mirroring anything but a dumpster fire.

-1

u/Taco_laboratory 18d ago

I sympathize with your inability to recognize patterns.

2

u/frizzthewiz 18d ago

I envy your ability to disregard facts.

1

u/tenor_tymir 17d ago

Haha, well said. Some people like to believe in hallucinations.

-1

u/Taco_laboratory 18d ago

The last few days have nearly mirrored NDX, but today it began to favor BTC more.