Bitcoin’s price has dipped below $80,000 amidst fears of a stock market crash, despite volatile trading during the week. This scenario presents a stark contrast to optimistic forecasts for Bitcoin’s price. Data from trading platforms highlighted a 3% decrease in Bitcoin price since the start of this week, as United States trade tariffs and recession apprehensions ignited significant losses across risk-prone assets.
Major US stocks faced significant setbacks, with the S&P 500 and Nasdaq Composite Index closing almost 6% lower on April 4. In response to the impact of recent tariff announcements wiping out an astounding $8.2 trillion in stock market value, some financial experts drew parallels to the notorious 1987 “Black Monday” crash, speculating about similar market conditions in the week ahead.
Despite the bearish sentiment crosscutting the stock markets, Bitcoin enthusiasts entertained audacious predictions regarding upcoming market movements. Max Keiser, an infamous Bitcoin advocate, predicted Bitcoin would mushroom to a staggering $220,000 by month-end. He hypothesized that the wealth displaced by a potential mega-crash would seek solace in Bitcoin, branded as the ultimate safe haven.
Amid the traders, the contrasting opinions regarding Bitcoin and stocks were incredibly noticeable. After weathering the harshest brunt of last week’s tariff fiasco, several traders proposed that Bitcoin’s price could potentially surge in the ensuing days. They observed decreasing Bitcoin volatility versus increasing stock volatility, suggesting that a considerable crypto movement could be imminent. However, they cautioned that this would depend on whether stocks can find a bottom early in the week.