Stock investors were disappointed knowing that the market has greatly declined. However, this might eventually lead to a sudden increase in the crypto market. Tom Lee, strategist in Wall Street and co-founder of Fundstrat Global Advisors, stated that the stock market’s ‘violent’ rally is most likely caused by mega-cap tech tanking income that scared off a few investors which resulted in withdrawing their stock investments.
Lee forecasted in 2021 that the stock market will increase its growth by the middle of 2022. ‘Interest rates look like they are set to reverse almost 30 years of declines’, Lee said in an interview in CNBC’s Crypto World.
$200,000 BTC price target
The online and bitcoin casino online industry has a lot to look forward to this year with a target price of over $200,000. Lee stated in his interview that the future for Bitcoin is quite optimistic seeing its trajectory moving beyond the targeted price point. Part of the reason for this surge is the spike in interest rates that cause bond owners to lose a considerable amount of money.
This leads to an unpredictable movement in the crypto market where Bitcoin is experiencing consistent growth.
Moreover, Lee pointed out the greatest drawbacks of investing in digital assets. The cryptographic hash being ‘exposed’ and the issues with global energy efficiency may be the two greatest risks of reaching Bitcoin’s expectations.
Nevertheless, the expected stock market fluctuations is still the greater risk that will see a certainty for crypto’s eventual rise.
What this means for the crypto market
A competitor’s downfall in one market (stocks and bonds) does not necessarily mean the rise of another (cryptocurrencies). However, the coins are narrowing the price gap between stocks and bonds that may lead to a takeover.
As the rise of cryptocurrencies becomes more prevalent, it should go without saying that a sudden downfall of the stock market that’s projected to occur in late February can significantly impact Bitcoin.
However, considering the volatility of the crypto market, there’s no certainty as to how crypto coins will greatly be affected by other financial intermediaries’ downfalls.
‘The biggest downside for crypto would be a vulnerability exposed in bitcoin, because it’s the most important blockchain and the one with the most value stored on it’, Lee further retorted about how cryptocurrencies will get affected by the stock market’s fluctuations.
Is this advantageous for Bitcoin and other altcoins?
Unfortunately, the stock market and other centralised financial intermediary markets fluctuate all the time. And yet, crypto is still regarded as a secondary option in the currency world.
With this, you can safely assess that the changes that may or may not benefit crypto users may be short-lived in a few months when stocks rise up in value again when the market corrects itself.
Regardless, any Bitcoin casino online and other crypto-reliant establishments and platforms have a lot to look forward to in this short spurt of growth that is about to happen should the projections occur.
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