Bitcoin is back to its highest since last January, along with US equity futures: crypto. $BTC
Experts have been pointing to a high correlation between Bitcoin and equities for a while already. As reported by U.Today, the most recent analyst to do so was Bloomberg's chief commodity strategistPrior to that,talked about a close correlation between Bitcoin and the Nasdaq 100, saying they may bottom together at the start of 2022.
Responding to the potential tightening of monetary policy by the Fed, investors have begun to get rid of expensive tech stocks and cryptocurrencies too.More"dipbuyers" to emerge: expert On Wednesday, the Fed is to end its two-day meeting, and shortly after that, the chair, Powell, will come up with a policy decision regarding rates. Anna Wong, an economist from Bloomberg, believes that the Fed will hold the rates steady and raise the speed of tapering, promising a rate rise in March of this year.
Todd Morakis, a JST Capital cofounder, expects investors to buy more coins on the dip as prices are declining.
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