Legendary Investor Reveals Bitcoin Concerns After Sudden Price Freebitcoinus.xyz

 Legendary Investor Reveals Bitcoin Concerns After Sudden Price Freebitcoinus.xyz

Bitcoin rallied sharply this week after struggling to maintain early 2021 momentum during the last week of February and March.

The price of bitcoin has surged over 10% in recent days, surging above $ 50,000 and hitting an all-time high of $ 58,000 per bitcoin as the US approved a huge $ 1.9 trillion coronavirus stimulus package.

Legendary investor Mark Mobius warned that with bitcoin's price skyrocketing nearly 600% over the past 12 months, a sharp drop in bitcoin could hit tech stocks very hard.

One of the things I fear, do not believe, is the decline in the price of bitcoin. I think the link between bitcoin prices and the technology market is very close, Mobius, founding partner of Mobius Capital Partners, told Bloomberg this week. adding, investors should: Watch this indicator.

Bitcoin's sharp rally has been attributed to a combination of Wall Street's institutional adoption, corporate interest, and retail traders pouncing on the bitcoin and cryptocurrency market.

In early February, Tesla, the electric vehicle maker led by billionaire Elon Musk, sparked the bitcoin market when it announced that it had bought $ 1.5 billion worth of bitcoins. Rumors that other tech companies might follow Tesla into Bitcoin have fanned the flames and a cryptocurrency mania has swept the markets.

Hopefully [bitcoin] will stay the same, I don't predict and I don't want it to fall,Mobius said. But I just hope it stays the same, because then tech stocks can recover.

Tech stocks, which have been hit hard in recent weeks, rallied this week, rallying with the bitcoin price led by Tesla.

Bitcoin investors and cryptocurrency analysts are confident again that the recent bullish rally is not over yet.

After dropping to just $ 53,500, buyers entered the main arena again and raised Bitcoin to $ 57,000, Alex Kuptsikevich, senior financial analyst at FxPro, said in an email comment.

There is a good chance the benchmark cryptocurrency will enter territory above $ 60,000.

 Legendary Investor Reveals Bitcoin Concerns After Sudden Price Freebitcoinus.xyz

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