{"id":251996,"date":"2024-02-22T11:51:40","date_gmt":"2024-02-22T06:21:40","guid":{"rendered":"https:\/\/dripp.zone\/news\/bitcoin-maxi-expects-btc-price-at-500k-with-a-1987-like-us-stock-market-crash-crypto-news\/"},"modified":"2024-02-22T11:51:43","modified_gmt":"2024-02-22T06:21:43","slug":"bitcoin-maxi-expects-btc-price-at-500k-with-a-1987-like-us-stock-market-crash-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-maxi-expects-btc-price-at-500k-with-a-1987-like-us-stock-market-crash-crypto-news\/","title":{"rendered":"Bitcoin Maxi Expects BTC Price At $500K With A 1987-Like US Stock Market Crash – Crypto News"},"content":{"rendered":"

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The Bitcoin (BTC) price roared past $50,000 earlier this month amid the successful launch of spot Bitcoin ETFs in January. However, the macro indicators flash a warning signal despite the S&P 500 reaching new all-time highs above 5,000 levels earlier this month.<\/p>\n

A 1987-Style US Stock Market Crash Coming<\/h3>\n

While the S&P 500 and other US indices have been roaring to new highs, it largely comes with a push from the top 10% stocks. Since reaching its most recent low point in October 2022, the magnificent seven stocks including Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla have surged by almost 117%, greatly surpassing the performance of the remaining 493 companies in the S&P 500 index.<\/p>\n

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As per the Kobeissi Letter, the top 10% of stocks in the US contributed to 75% of the entire market value. This marks the highest level of stock market concentration since the Great Depression in 1931.<\/p>\n

During the Dot-com bubble of 2001, the concentration of the top 10% of stocks reached approximately 72%. Even before the 2008 Financial Crisis, the concentration of the top 10% of stocks peaked at around 66%. On average, the top 10% of stocks represent about 64% of the entire stock market.<\/p>\n

As a result, renowned Bitcoin advocate Max Keiser warns of an impending financial downturn reminiscent of the 1987 crash. Keiser asserts that Bitcoin heralded as the ultimate safe haven asset, will skyrocket beyond $500,000 as investors seek refuge from traditional market volatility. Furthermore, Keiser predicts a continued erosion of gold\u2019s status as a monetary asset in favor of Bitcoin.<\/p>\n

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In addition to Bitcoin\u2019s projected ascent, Keiser anticipates regulatory crackdowns targeting Bitcoin exchange-traded funds (ETFs) and domestic Bitcoin miners, potentially leading to government seizures. \u201cIf they can do this to Trump they can certainly seize Bitcoin<\/span> held in BTC ETF\u2019s & commandeer US BTC miners,\u201d he added<\/a>.<\/span><\/p>\n

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1987-style crash coming. #Bitcoin<\/a>, the ultimate safe haven, will soar past $500,000 <\/p>\n

Gold will continue getting demonetized by #Bitcoin<\/a> <\/p>\n

BTC ETF\u2019s (& domestic BTC miners) will get seized by U.S. gov. <\/p>\n

1 million middle & upper class migrants will flood into #ElSalvador<\/a> https:\/\/t.co\/zx3NbrkV5m<\/a><\/p>\n

\u2014 Max Keiser (@maxkeiser) February 21, 2024<\/a><\/p>\n<\/blockquote>\n

The 1987 crash was influenced by various factors: Economic growth saw a slowdown in the initial three quarters of 1987, coupled with a surge in inflation. This economic backdrop, reminiscent of the stagflation period of the 1970s, left investors on edge. Moreover, the stock market had already experienced a nearly 10% decline the week preceding Black Monday, intensifying investors\u2019 anxieties.<\/p>\n

BlackRock Hosting Digital Assets Summit<\/h3>\n

While Max Keiser has taken an anti-Bitcoin ETF<\/a> stand, the world\u2019s largest asset manager BlackRock continues to pull fresh inflows into its iShares Bitcoin ETF<\/a>.<\/p>\n

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Later today, BlackRock will host the Institutional Digital Assets Summit, an event drawing attention from the financial world. This summit comes at a time when BlackRock\u2019s Bitcoin ETF stands out as the top-performing ETF of 2024, marking its sole digital asset offering on the market.<\/p>\n

Essentially, the summit is poised to serve as a strategic platform for promoting Bitcoin to institutional investors, making it akin to a specialized Bitcoin sales conference tailored to meet the needs of large financial institutions.<\/p>\n

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\ud83d\udca5JUST IN: BlackRock is hosting the Institutional Digital Assets Summit tomorrow.<\/p>\n

Their #Bitcoin<\/a> ETF is the best performing ETF in 2024, and their only listed digital asset product.<\/p>\n

It’s basically going to be a Bitcoin sales conference for institutions\u2026 \ud83d\ude0e \ud83d\ude80 pic.twitter.com\/z3l4Q0OeGV<\/a><\/p>\n

\u2014 Bitcoin Archive (@BTC_Archive) February 21, 2024<\/a><\/p>\n<\/blockquote>\n

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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills. <\/p>\n<\/p><\/div>\n

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