🔥 CAN STOCK EXCHANGE SELLING STOP THE CRYPTO RALLY❓
➡️ Cryptocurrency analyst Joel Kruger evaluated the factors that could stop the recent rally in the crypto market. Bitcoin (BTC) and other cryptocurrencies fell below $64,000 in a sharp decline during the US trading session. Then it rose above 65,000. This decline coincided with a sell-off in US stock indexes. Nasdaq lost 2.9% and S&P 500 lost 1.39%. Technology giants like Nvidia, in particular, are struggling as investors direct their capital into smaller stocks.
➡️ LMAX Group market strategist Joel Kruger stated that the crypto rally may also stop if there is a deeper correction in the stock market. However, he emphasized that in the longer term, cryptocurrencies could be a safe haven for investors fleeing stocks. "We think we could see a major downtrend in the U.S. stock market, which would be a healthy correction. But even in such a situation, we think Bitcoin and other crypto assets will remain attractive to investors due to their innovation potential," Kruger said.
🔥🔥🔥 The cryptocurrency market continues to be affected by fluctuations in the stock markets. However, in the long run, cryptocurrencies have the potential to be a safe haven for investors!!