both in 2022 cryptocurrency It has been a challenging year for both stock markets and stock markets. The crypto winter was not just the crypto winter, it was the winter of everything.
In addition to the crypto winter, the FED’s tight monetary policy in its fight against inflation and opening the mode of increase in interest rates caused the lowest levels of stock exchanges such as the S&P 500 to be seen.
However Wall Street’s tech bulls He said that they are hopeful for 2023. Wall Street bulls, who expect the industry’s mega-cap stocks to rise soon, are counting on the S&P 500 to start a rapid recovery as well.
Gary Bradshaw, portfolio manager at Hodges Capital Management in Texas, “Even a small advance in tech mega-capitals will be significant. This will be positive and not just for tech investors. It will send a signal to the broader S&P.” said.
Eric Beiley, director of asset management at Steward Partners Global Advisory, said: “You have to be wary of tech stocks because there is still uncertainty that the Fed will go beyond rate hikes. Technology will eventually make its way, but until we get more clarity on central bank policy, this is a tough place to invest.” said.
Stating that technology giants have continued the bull run of the stock market for most of the last decade, experts said that technology giants were also dominant during the Covid-19 epidemic, when investors switched to digital media. But that trend reversed last year as rising prices forced the central bank to counteract and cut rates to near zero, experts say.
Experts stated that Apple, the largest share of the S&P 500 by market capitalization, and Tesla, the 15th largest share, were responsible for 88% of the decline in the S&P 500 on the first trading day of 2023.
While Wall Street bulls expect tech stocks and thus the S&P 500 to rise, the S&P S00 is highly correlated. Bitcoin (BTC) The question arises as to how it will be affected by this rise.
bitcoin Although he has been dealing with the chaos in his own domestic market lately, we see that the atmosphere of fear has begun to dissipate. The low interest in this process also signals a possible rally.
If the Wall Street bulls’ expectations for the S&P 500 and tech stocks come true, it wouldn’t be a surprise to see Bitcoin again move above $20,000.
over $17,000 bitcoinAt the time of writing, it is trading at $ 17,203, up 1.53% in the last 24 hours.
*Not investment advice.
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