Bitcoin Looks to Move Upward and Break This Year’s High While S&P 500 May Drop 10%
Bitcoin has been having a great so far, but it looks like it may go up even more soon. This year, the crypto has gone up 11%. During the whole year, the token has gone up over 200%. When you compare to it to traditional stocks, you can see just how high this is.
A new article on Forbes recently affirmed that Bitcoin could easily go over $14,000 USD this year after finally having passed its 50-day moving average.
According to the author, Naeem Aslam, the U. S. President Donald Trump is one of the main reasons for the prices to be going up. He is taking his war with China to new levels and imposing several new tariffs which are making the investors scared.
China is retaliating by devaluating its own token and the U. S. will possibly do something in retaliation as well. As the trade war is bad for the market, investors are bound to invest in Bitcoin more. This can also lead the U. S. Federal Reserve Bank (Fed) to adopt a dovish monetary policy and the dollar index may go down.
With the whole market going down so quickly, the author believes that equity markets are prone to move down and that the only way out is investing in Bitcoin. Because of this, Bitcoin is expected to continue its rise while other traditional assets will continue their movement down.