The latest post by popular US host Jim Cramer about the Nasdaq has excited Bitcoin (BTC) investors for a possible bull run.
Jim Cramer a recent social media post with attention. Cramer, who has come to the fore with his wrong predictions many times before, this time too. Implying that the Nasdaq will rise made statements. After sharing Elon Musk Many social media users, including, made sarcastic comments.
Cramer made the following statements in his post:
Short the Nasdaq and then invite me to your funeral.
It is difficult to predict whether Cramer’s prediction will come true, but if the popular server is right this time, the Nasdaq rise in question can have a serious meaning in Bitcoin. According to analysts Correlation between Bitcoin and Nasdaqappears to be one of the important contexts to consider when interpreting Cramer’s post.
Bitcoin-Nasdaq correlation according to data provided by on-chain analytics platform Intotheblock increase since the beginning of March showed. Finally on March 8 with -0.23 The correlation, which saw the lowest level in the last 4 months, increased significantly at the time of writing. at level 0.6 is positioned.
The correlation between Bitcoin and Nasdaq has been an indicator of close movements for both instruments in the past, often triggering each other in a bullish or bearish direction. Especially after the recent closure of US banks. money printing activities and the Fed because of the bankruptcies in question. the idea that interest rates will not rise It helps maintain the positive mood for the markets.
According to analysts, if the direction of the wind does not change and there is no destructive event for the market, Cramer seems likely to be right in this prediction, at least in the short term.
CoinGecko data in the last 24 hours 6.9% rise performing bitcoinat the time of writing at $26,598 is being traded.