Opinion: Bitcoin will hold out in the next fall in the stock market

Dan Tapiero, co-founder of Holdings DTAP Capital and Gold Bullion International, believes that despite the strong correlation of BitcoinWith Wall Street's S&P 500 stock index, the first cryptocurrency has every chance to stay afloat.

As a multi-portfolio manager intrillions of dollars, he sees one major “red flag” in the stock market that reflects difficult sentiment and will soon lead to a collapse in stock indicators. 

A macro investor shared a chart that shows that retail investors are not optimistic enough about the S&P 500, and this could negatively impact stock prices:

In his opinion, the stock market is falling slowing down due to the weakening of the position of retail and institutional investors who preferThis will help bitcoin hold on to current values in the new stock indices.

Its long-term outlook for the flagship cryptocurrency remains extremely optimistic.Noted:

“Amazing long-term log chart of #Bitcoinpredicts growth of 5-10 times over this period. This should last several years as the 2.5 year consolidation – a fantastic base to take off from. A breakout of old highs will have an explosive ending. Sit down and be patient."

An experienced manager believes that the currentthe macroeconomic environment will almost certainly drive Bitcoin up, and the government's ongoing monetary stimulus efforts will push the asset's value up over time.

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