Cryptocurrency

Bitcoin at $11.000, before the Nasdaq $11K achieved? Why investors are currently bullish – Coin Update

– Display

After a brutal liquidation in March due to pandemic fears of both Bitcoin as well as the shares have seen an impressive Comeback.

Nevertheless, the crypto-currencies, the head the helm and a strong Performance in one of the defaulted most economies experienced since the Great Depression, it is.

The leading crypto-currency is more than 150% above the lows of $ 3,700 a. And the technology-intensive stock index, the Nasdaq, has risen to its lows from March by about 40% and has seen year on year even with a positive Performance.

Graphics Bitcoin vs. the Nasdaq 100 since the beginning of the year 2020. Source: Tradingview.com

According to a recent survey, investors expect that Bitcoins Outperformance to continue. But analysts believe that this will be the case?

Bitcoin at $11.000, before the Nasdaq of $11,000 is reached?

Due to the since the beginning of the pandemic, increased demand for digital goods and services, technology stocks in the last few months rapidly.

The video communication company Zoom has increased since the beginning of the year to about 220%. Large companies such as Amazon, Apple and Microsoft have made since the beginning of the year to more than 10%.

This Transition led to the fact that the Nasdaq Index has risen over 10,000 points – the highest value of all times and a sign of the Analog-to-Digital. Since Bitcoin is also traded in the $ 10,000 range, and compared the two values with each other.

According to a spontaneous poll of the Digital Asset commentator and Investor in Maple Leaf Capital 43% to see out of 130 respondents, that BTC will rise to 11,000 $, before the Nasdaq reached to 11,000 points.

With the Loading of the Tweets, you accept the privacy policy of Twitter.
Learn more

Content download

Twitter Tweets unlock always

Only 16% of the survey participants expect that the Nasdaq will make the leap first.

Bearish Trends could wipe out equity and crypto

However, 41% of the respondents say that none of them will reach the 11,000 points. And this feeling may well be entitled to.

Although a number of Top Wall Street analysts bullish, seem to be the economic trends are all bullish.

The Federal Reserve announced this week that it forecasts a decline in the national GDP of 6.5% during the year 2020, what would be the biggest decline for decades.

Fed Chairman Jerome Powell:

“This is the biggest economic shock in the United States and the world, really, since time immemorial,”

Economic data are not synonymous with the development of asset prices, but the two are connected in some way to each other: A low GDP means that companies earn less money, which can lead to even less spending, if the debt goes back, then the shares falling to be fairly valued.

If true, this scenario could Bitcoin follow the stock down. Arthur Hayes of BitMEX said about Bitcoin:

“Could you test the price of 3,000 dollars again? In any case. If the SPX to fall, and 2,000 tests, it is expected that all asset classes are gonna be sick again. So violently, the break-in of assets in of 1. Quarter was, we have nearly weights 100 years, unequal to the ancient Regime to dissolve.“

– Display

About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.

Do NOT follow this link or you will be banned from the site!