Follow Warren Buffett’s news for investors in the cryptocurrency market right here.
Warren Buffett news for investors
Buffett announced at an event last week that most of our businesses will be less profitable this year than last year. He also added that the unique period for the American economy over the past six months has ended. Accordingly, he has sold a total of $13.30 billion of his shares in Berkshire Hathaway Warren Buffett.
One of the key indicators that market players always use to analyze the American economy is the assets of Berkshire Hathaway because the assets of this company are diverse from American railways to trade and…
Warren Buffett’s news had consequences for investors in the cryptocurrency market, which we will discuss further.
Of course, it goes without saying that this 92-year-old American investor has lost hope in investing in high-risk assets and therefore is preparing his tissue for a possible fall in the stock market, especially with the revelation of the US banking crisis, which stocks Many banks are failing, such as PacWest Bancorp and Western Alliance Bancorp.
In the meantime, the increase in the possibility of a global recession can also bring the risk of increased selling pressure for Bitcoin. In this regard, it should be noted that the 100-week correlation of Bitcoin with the Nasdaq index has reached its highest level of about 0.42%.
Prominent analysts have analyzed the fall of Bitcoin and the cryptocurrency market from different angles based on this news.
Investigating the fall of the cryptocurrency market from the point of view of a prominent Bloomberg analyst
Bloomberg analyst Mike McGlone predicts that the price of Bitcoin will likely act as a leading indicator of a stock market crash. If the worst is not over for risky assets, McGlone believes, Bitcoin may lead the way for other risky assets to fall.
He added that until May 2, 2023, Bitcoin has increased in price by almost 70%, while the stock market index has experienced only 20% growth. These cases can be considered a temporary increase in a bearish market. The Federal Reserve is still inclined to pursue contractionary policies unless inflation falls as riskier assets fall. that this policy can bring losses.
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