Veteran economic theorist Max Keiser believes the bad situation for the world’s stock markets is good for Bitcoin. He’s probably not alone in that thought.
New target in Bitcoin
The founder of the cryptocurrency venture capitalist company Heisenberg Capital points out that they are beginning to predict a decline in stock markets, fearing that the market will fall by 15,000 points collectively. He also notes that a stock market accident could encourage investors to withdraw their capital from perceived safe-haven assets:
“THE STOCK MARKET SHOWS OVER-THE-SEGREGATION DOCUMENTS. THERE IS A GAP OF 15,000 POINTS BELOW THE CURRENT PRICES. WAIT WHEN THE TRAP DOOR IS OPENED. $25,000 AND GOLD WILL BE $3,000. ”
Comments came the day when the world’s largest wealth managers also expressed their pessimism towards stocks. UBS Wealth Management, which manages $2.5 trillion worth of assets in its portfolio, has advised customers to reduce their position in risky assets. Canadian-based investment company Fiera Capital said global market sensitivity is fragile and investors are behaving at risk.
Keiser, UBS, and Fiera have expressed their pessimistic feelings, both of the ongoing trade dispute between the United States and China. The two superpowers have recently increased tensions after imposing “tariffs on customs duties” on each other.
On Friday, US President Donald Trump closed the issue with a call to companies in the region to “start looking for alternatives to China.”
Monday, however, was very different from the weekend. Trump is currently attending the G7 Summit in France and praised China for making efforts to restart its trade talks. In the afternoon, the President mentioned a MarketWatch report in his tweet, saying they were “willing to come from the Chinese authorities” and express the facts so accurately about the ongoing commercial tensions.
In the generation of commercial tensions, let’s see what values the price of Bitcoin will test.