Crypto Expert Warns Of $440 Billion Wipeout, Shares Concerning Prediction About Bitcoin
Portfolio Pulse from Bibhu Pattnaik
Crypto analyst Nicholas Merten predicts a $440 billion contraction in the total market capitalization of Bitcoin and other digital currencies, with Bitcoin potentially stabilizing between $15,000 and $16,000. The anticipated downturn is attributed to the Federal Reserve's hawkish approach, which is expected to reduce liquidity and negatively impact the performance of stocks such as Microsoft Corporation and Apple Inc.
September 24, 2023 | 3:42 pm
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NEGATIVE IMPACT
Apple Inc.'s stock performance may be negatively impacted by the anticipated downturn in the crypto market.
The anticipated downturn in the crypto market, attributed to the Federal Reserve's hawkish approach, is expected to reduce liquidity and negatively impact the performance of stocks such as Apple Inc.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Bitcoin is expected to face a significant contraction in its market capitalization, potentially stabilizing between $15,000 and $16,000.
The prediction of a significant contraction in Bitcoin's market capitalization is likely to have a negative impact on its price in the short term.
CONFIDENCE 80
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Microsoft Corporation's stock performance may be negatively impacted by the anticipated downturn in the crypto market.
The anticipated downturn in the crypto market, attributed to the Federal Reserve's hawkish approach, is expected to reduce liquidity and negatively impact the performance of stocks such as Microsoft Corporation.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50