bad start to 2022 bitcoinHe started to heal his wounds in February. So, can we call the $33,000 level seen in January a bottom for Bitcoin?
Bloomberg senior commodities strategist Mike McGlone said that the bottoming in Bitcoin depends on the performance of the US stock markets and added:
Has Bitcoin reached the bottom? If the stock markets didn’t reach it, unfortunately it doesn’t.
Many investment vehicles face high deflationary pressures in 2022 due to excesses in 2021. But it looks poised to stand out as Bitcoin matures its global digital collateral status.”
Saying that Bitcoin looks strong against Nasdaq, the analyst also shared a chart.
In the chart, we see that Bitcoin has started to diverge from the Nasdaq with its recent rise.
As of our news hour, we are trading at $43,900 in Bitcoin price and $3189 in Ethereum price.
When we look at the pre-opening futures markets in the US stock markets, we see that there is a premium of over 1% in the Nasdaq, and close to 1% in the S&P500 and Dow Jones.
While the horizontal course continues in gold and silver, the opening at 17.30 will be followed.