cryto

blockchain

Cryptocurrency Markets to Surge While Stock Markets Plunge, as per Analysts

Market predictions are primarily guesswork backed with technical indicators that take a photograph of present conditions to try a prediction of future ones. What is clear at the moment is that cryptocurrency markets seem to be on the bottom while stock markets are heading south.

Cryptocurrency prima bull Tom Lee took part in CNBC’s ‘fast money’ where he mentioned that the stock market selloff is a mid-life crisis for markets. He also added that the earnings season will be ugly.

Lee blames the FED for causing the selloff when it raised interest rates and undermining the markets. This may have had a greater effect than Trump’s tariffs and trade embargoes.

Apple has taken the impact of the fall as its stock has drooped over 10 percent in the past couple of days. As per Tim Cook, CEO of Apple, the primary catalyst for the poor performance include the slowdown in Chinese sales and Trump’s war on trade.

On the other hand, the cryptocurrency and digital asset markets are poised to make a recovery this year, at least as per a number of analysts. Bloomberg as cited the GTI Vera Convergence Divergence indicator which has been previously used to predict a rally in Bitcoin prices. As per this new technical indicator, Bitcoin is presently in a ‘buy streak’ not seen for several months in addition to Bloomberg’s own Galaxy Crypto Index. It further stated that further gains are expected if buying pressure continues as it has done for the past 13 days.

Mati Greenspan of eToro added that if one is going by technical analysis one can very easily see on the chart that he is much closer to the bottom than he is to the top. This is a sentiment echoed by Ethereum co-founder Joseph Lubin who called the bottom last month tweeting that he is calling the crypt bottom of 2018. He added that this bottom is marked by an epic amount of uncertainty, fear, and doubt from our friends in the fourth and crypto-fifth estates.

Cryptocurrency markets could have a much better year than the previous one if these sentiments are to be believed. On the other hand, stock markets seem to be heading in the conflicting direction and may speed up declines if a certain president has his way.

Related Posts

Leave a Reply

Subscribe To Newsletter

For updates and exclusive offers, enter your e-mail below.

HOT TOPIC

blockchainIn, , ,
Bitcoin Approaching Bottom, Institutional Money may “Explode Crypto”, as per Dollar Vigilante
January 14, 20190
blockchainIn, , , ,
Singapore Might Trigger Next Wave of Crypto Adoption by Making Regulations Next Year, Says the CMO of Cryptology
January 14, 20190

LITECOIN NEWS

In, , ,
No Bitcoin Deficit a Problem for Regulators, Says CME Group CEO Terry Duffy
March 26, 20190
In, , ,
Tether in Spotlight Again, Changes Terms of Reserves
March 25, 20190


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin3,940.22 0.34 % 0.77 % 1.45 %
Ethereum135.08 1.06 % 1.23 % 2.00 %
XRP0.303 0.81 % 1.04 % 3.34 %
Litecoin59.68 1.98 % 1.59 % 0.84 %
Bitcoin Cash162.54 2.33 % 2.10 % 2.77 %