3 Reasons Why Bitcoin Price Could Crash if US Stock Market Collapses
Specialists in the financial market and the crypto industry envision a major stock market correction unfolding in the short term. In the provision of high correlation of Bitcoin (BTC) with stocks witnessed in the past three months, there is a strong possibility that Bitcoin could further follow suit.
The United States stock market has visualized high volatility after the Dow Jones Industrial Average was seen to plummet by around 7% on June 11th, led by double-digit drops of airline stocks. A conflux of three factors is apparently triggering sizable volatility in the stock market: unpredictability around the ascending COVID-19 pandemic, institutions moving to cash and bonds over stocks, and major geopolitical risks.
Writer – Soumili Roy