Stock Market Recovery Slowdown Predicted, resulting in Bitcoin Correction, as per Jason Pizzino's perspective. Here's his projected scenario.
Rewritten Article:
Hey there, crypto fans!
Looks like our good friend Jason Pizzino, a famous crypto strategist, is warning us about a possible market correction for Bitcoin (BTC). He's shared his insights with his 350,000 YouTube subscribers, and we thought it'd be cool to pass this info on to you.
What's Pizzino saying? Well, he believes the stock market recovery might stall out, and if that happens, Bitcoin probably won't be immune. He points out BTC's historic correlation with stocks, suggesting the S&P 500 (SPX) could dip lower during the second quarter, leading to a Bitcoin correction.
Here's a snippet from his video:
Apart from this, Pizzino also thinks Bitcoin might see a surge in bullish momentum based on its historical inverse correlation with the US dollar index (DXY). The DXY has been on a decline lately, and this could mean better days for Bitcoin, as more investors may view it as a safe-haven asset similar to gold.
Currently, Bitcoin is trading at $97,346, with no changes for the day. Remember, though, this is not financial advice. Investing in cryptocurrencies always comes with risks, so it's crucial to do your own research.
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- Jason Pizzino, a renowned crypto strategist, has warned about a potential market correction for Bitcoin (BTC), suggesting its historic correlation with the S&P 500 could cause Bitcoin to follow suit in a possible market downturn.
- Amid the warned correction, Pizzino also speculates a surge in bullish momentum for Bitcoin due to its inverse correlation with the US dollar index, as the DXY has been recently on a decline and investors might view Bitcoin as a safe-haven asset like gold.
- In the crypto industry, the Crypto Trading Cup has kicked off live, while Blockchain T-Rex raised $17 million and ProMeet unveiled an influencer program in recent announcements.
- Meanwhile, there's a prediction for an Ethereum-based altcoin to surge by 150% and a decentralized exchange altcoin to increase by 120% if Bitcoin stays strong.
- A warning to crypto investors: Investing in cryptocurrencies comes with risks, so always do thorough research before making any investment decisions.
