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Opinion: Bitcoin's peak growth could lead to a stock market crash


四月, 08 2024
watermark Economic news

The peak price of bitcoin, reached in mid-March at a record level of $73,800 and still not confirmed by repeated testing, may be the beginning of a «bearish» cycle for the stock market, Business Insider reports. 


The rise in the price of bitcoin and the NASDAQ 100 index reflects the speculative fever caused by the Fed's «cheap money» during the pandemic, according to a number of strategists on Wall Street. In particular, Stifel strategist Barry Bannister pointed out that the recent growth of the cryptocurrency coincided with the «dovish» reversal of the Fed, but this connection may indicate the end of the current «bullish» growth.


If we consider the logarithmic diagram of bitcoin with a polynomial trend, then the token is already approaching the so-called «maturity» with major peaks at $73,000. If the token has already reached its peak, it could have negative consequences for the rest of the stock market, especially for technology stocks and the entire NASDAQ 100 index over the next six months.


This suggests a weakening of technology stocks and a possible decline in investor sentiment when value stocks begin to outperform growth stocks.


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外汇本质上有高度的投机性和复杂性,可能并不适合所有投资者。 外汇交易可能会带来重大的收益或损失。 因此,建议您不要承担无法承受的损失。 在使用ForexMart提供的服务之前,请确认外汇交易相关联的风险。 必要时寻求独立的财务意见。请注意,过去的业绩和预测都不是未来结果的可靠指标。