After the decline in the value of Bitcoin amid a general decline in the stock market due to US trade tariffs imposed by Trump, traders have some optimistic forecasts.
After the decline in the value of Bitcoin amid a general decline in the stock market due to US trade tariffs imposed by Trump, traders have some optimistic forecasts.
The stock market crash is being called a repeat of Black Monday of 1987, writes Cointelegraph, citing the words of Jim Cramer, host of the «Mad Money» segment on CNBC.
«Trump’s tariff announcement this week wiped $8.2 trillion off the value of the stock market — more than was lost during the worst week of the 2008 financial crisis,» the publication writes, citing the words of author and financial commentator Holger Tschepitz in a response to X.
Cramer previously said that control mechanisms in the form of market switches «could slow things down.» Max Keiser, a TV host and filmmaker known as an outspoken Bitcoin supporter with unorthodox economic views, said that a mega-crash would push Bitcoin to $220,000 by the end of the month.
Although traders generally hold quite opposing views on Bitcoin and stocks, there is still a prevailing sentiment that the worst of the «tariff shock» has passed and the coming days could even lead to a noticeable increase in the price of Bitcoin.
«$BTC volatility is falling lower and lower, while the $VIX (volatility index) of stocks closed at its highest level since the Covid crash of 2020,» noted popular trader Daan Crypto Trades in his latest analysis. He suggests that a significant move in the cryptocurrency could happen as early as next week. This will depend on when stocks «bottom out.»
Trader Kas Abbe expects a weekly return of Bitcoin’s value to $92,000 to confirm the uptrend.
