{"id":419356,"date":"2022-03-21T17:32:52","date_gmt":"2022-03-21T14:32:52","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-could-easily-see-30k-with-stocks-due-30-drawdown-in-2022-analyst\/"},"modified":"2022-03-21T17:32:52","modified_gmt":"2022-03-21T14:32:52","slug":"bitcoin-could-easily-see-30k-with-stocks-due-30-drawdown-in-2022-analyst","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-could-easily-see-30k-with-stocks-due-30-drawdown-in-2022-analyst\/","title":{"rendered":"# Bitcoin &#8216;could easily see $30K&#8217; with stocks due 30% drawdown in 2022 \u2014 analyst"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_89 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6af9779e54586\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6af9779e54586\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-could-easily-see-30k-with-stocks-due-30-drawdown-in-2022-analyst\/#%E2%80%9D_Bitcoin_%E2%80%98could_easily_see_30K_with_stocks_due_30_drawdown_in_2022_%E2%80%94_analyst_%E2%80%9C\" >&#8221; Bitcoin &#8216;could easily see $30K&#8217; with stocks due 30% drawdown in 2022 \u2014 analyst &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-could-easily-see-30k-with-stocks-due-30-drawdown-in-2022-analyst\/#McGlone_Fed_is_saying_%E2%80%98Dont_buy_the_dip\" >McGlone: Fed is saying &#8216;Don&#8217;t buy the dip&#8217;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-could-easily-see-30k-with-stocks-due-30-drawdown-in-2022-analyst\/#Germany_lays_bare_inflation_dangers\" >Germany lays bare inflation dangers<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_%E2%80%98could_easily_see_30K_with_stocks_due_30_drawdown_in_2022_%E2%80%94_analyst_%E2%80%9C\"><\/span>&#8221; Bitcoin &#8216;could easily see $30K&#8217; with stocks due 30% drawdown in 2022 \u2014 analyst &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Bitcoin (BTC) the Wall Street trading session with a spike over $41,500 on March 21 as last week&#8217;s late gains endured.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-03\/fdb99cfb-e81a-4032-8613-ca4b60fce91f.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"McGlone_Fed_is_saying_%E2%80%98Dont_buy_the_dip\"><\/span>McGlone: Fed is saying &#8216;Don&#8217;t buy the dip&#8217;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/?exchange=BINANCE\">TradingView<\/a>\u00a0showed BTC\/USD advancing $500 into the Wall Street open to see a strong start after its best weekly close in four weeks, but progress was short-lived.<\/p>\n<p>Amid a buoyant stock market, the largest cryptocurrency showed mixed signs on the lowest timeframes as traders waited to see how long the current trajectory could sustain.<\/p>\n<p>For popular trader Crypto Ed, the area around $41,500 was essential as a potential pivot point \u2014 a bounce and continuation could occur, providing an opportunity for longs, but a rout would mean a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">trip<\/a> below $40,000 support.<\/p>\n<p>In his latest <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=4fJc3xU7dc8&amp;feature=youtu.be\">YouTube update<\/a>, he identified $37,000 as a potential bearish target.<\/p>\n<p>Analyzing the 4-hour chart, meanwhile, trader Pierre called the $40,800-$41,200 zone a &#8220;must hold.&#8221;<\/p>\n<p>&#8220;LTF pivot today imo (break it, teleport to 42.0-42.5k),&#8221; he concluded in the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/pierre_crypt0\/status\/1505885479044067331\">latest entry<\/a> in a dedicated <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> thread about spot price action.<\/p>\n<p>Addressing the wider macro picture, meanwhile, Mike McGlone, senior commodity strategist at Bloomberg Intelligence, had some concerning <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> for those hoping that the stock market revival would last much longer.<\/p>\n<p>&#8220;So we have the most extended stock market in 20 years relatively&#8230; most expensive stock market in terms of GDP in the history of mankind, most expensive stock market versus real estate and versus global equities ever&#8230; and part of that is that&#8217;s been driving inflation and the Fed has to push back that inflation,&#8221; he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=oKVXvZNwNlY\">told<\/a> the Wolf of All Streets Podcast Monday.<\/p>\n<blockquote><p>&#8220;So to me, that&#8217;s the key puzzle point this year \u2014 that if it doesn&#8217;t get filled in, i.e. the stock market dropping about one third, then that&#8217;s going to be an issue.&#8221;<\/p><\/blockquote>\n<p>As such, bets were in place already for a significant equities correction, with Bitcoin&#8217;s positive correlation making losses for hodlers a major liability.<\/p>\n<p>Continuing, McGlone pointed to hints by Fed Chair Jerome Powell that more aggressive interest rate hikes to tame inflation could come at further meetings of the Federal Open Market Committee (FOMC).<\/p>\n<p>&#8220;That was my warning \u2014 people that don&#8217;t get it yet \u2014 &#8216;Don&#8217;t buy the dip&#8217; \u2014 that&#8217;s for the people that haven&#8217;t learned their lessons,&#8221; he said.<\/p>\n<p>On Bitcoin specifically, he gave a target of $100,000 years out, but that the market &#8220;might easily see $30,000 first.&#8221;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Germany_lays_bare_inflation_dangers\"><\/span>Germany lays bare inflation dangers<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>More macro news difficult to swallow came from Europe prior to the Wall Street opening bell.<\/p>\n<p><strong><em>Related:\u00a0\u2018No more 4-year cycles\u2019 \u2014 5 things to know in Bitcoin this week<\/em><\/strong><\/p>\n<p>Despite a recovery in European equities versus the month of war between Russia and Ukraine, inflation figures showed the extent of the headache unfolding for policy makers.<\/p>\n<p>On the radar of market commentator Holger Zschaepitz Monday was Germany&#8217;s producer price index (PPI).<\/p>\n<p>&#8220;German PPI jumps 25.9% YoY in Feb. This was the highest increase ever since the start of the stats in 1949. PPI ex-energy rose 12.4% YoY,&#8221; he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Schuldensuehner\/status\/1505843477082513410\">warned<\/a>.<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Schuldensuehner\/status\/1505843477082513410\/photo\/1\"><\/a><\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-03\/3219247f-9376-4351-bb98-48f3f90b985c.png\"><figcaption style=\"text-align: center;\"><em>German PPI chart. Source: Holger Zschaepitz\/ Twitter<\/em><\/figcaption><\/figure>\n<p>Like BTC, classic safe haven gold meanwhile was also biding its time looking for direction, making up ground lost in its downhill candle on Friday and trading at around $1,934 at the time of writing.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-03\/47609460-5d95-4a35-9373-8bccba2f268a.png\"><figcaption style=\"text-align: center;\"><em>XAU\/USD 1-day candle chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>On altcoins, flat performance dictated the mood, with none of the top ten cryptocurrencies by market cap advancing by more than 5% on the day.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-could-easily-see-30k-with-stocks-due-30-drawdown-in-2022-analyst\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin &#8216;could easily see $30K&#8217; with stocks due 30% drawdown in 2022 \u2014 analyst &#8220; Bitcoin (BTC) the Wall Street trading session with a spike over $41,500 on March 21 as last week&#8217;s late gains endured. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView McGlone: Fed is saying &#8216;Don&#8217;t buy the dip&#8217; Data from Cointelegraph&#8230;<\/p>\n","protected":false},"author":1,"featured_media":419357,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvZGRmMzY0ZDQtZTc0Yy00NjMxLTk4MTUtN2YxMjM5OWJkMzFkLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-419356","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/419356","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=419356"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/419356\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/419357"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=419356"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=419356"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=419356"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}