{"id":430048,"date":"2022-04-11T20:58:19","date_gmt":"2022-04-11T17:58:19","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-may-plummet-to-30k-as-tech-stocks-tank-analysts\/"},"modified":"2022-04-11T20:58:19","modified_gmt":"2022-04-11T17:58:19","slug":"bitcoin-may-plummet-to-30k-as-tech-stocks-tank-analysts","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-may-plummet-to-30k-as-tech-stocks-tank-analysts\/","title":{"rendered":"#Bitcoin may plummet to $30K as tech stocks tank: analysts"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 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-6a396ee9dadb0\" 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-6a396ee9dadb0\" 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-may-plummet-to-30k-as-tech-stocks-tank-analysts\/#%E2%80%9CBitcoin_may_plummet_to_30K_as_tech_stocks_tank_analysts%E2%80%9D\" >&#8220;Bitcoin may plummet to $30K as tech stocks tank: analysts&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CBitcoin_may_plummet_to_30K_as_tech_stocks_tank_analysts%E2%80%9D\"><\/span>&#8220;Bitcoin may plummet to $30K as tech stocks tank: analysts&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Bitcoin could slump to $30,000 as the era of cheap money comes to a close and investors move cash from speculative assets to safer bets, market watchers suggest.<\/p>\n<p>Analysts note that cryptocurrencies are being treated by investors much the same as speculative tech stocks. <\/p>\n<p>While the tech-heavy Nasdaq was down nearly 4% last week, crypto <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears to be getting hit even harder. In the last 24 hours alone, bitcoin is down more than 6% and ethereum is down more than 8%, according to data from CoinBase.<\/p>\n<p>Bitcoin is currently trading above $41,000 and ether is trading above $3,000. <\/p>\n<p>\u201cBitcoin is struggling for direction as Wall Street grows cautious over how aggressive the Fed will be with tightening of monetary policy,\u201d currency expert at broker Oanda Edward Moya said in a research note. \u00a0<\/p>\n<p>\u201cIt\u2019s been a rough week for bitcoin which has been hammered by deteriorating risk appetite,\u201d adds Craig Erlam, a market analyst at Oanda. <\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/bitcoin-1176.jpg?w=1024\" alt=\"bitcoin conference\" class=\"wp-image-21854993\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/bitcoin-1176.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/bitcoin-1176.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/bitcoin-1176.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Bitcoin still has some notable bulls but at least some experts expect it to plummet in the short term.<\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<p>Even some well-known cryptocurrency bulls are raising alarm bells. <\/p>\n<p>\u201cThis is crypto, and magic internet money corrupts the brain so let me \u2026 attempt to sober you up,\u201d BitMEX co-founder Arthur Hayes <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptohayes.medium.com\/the-q-trap-f1a38312f00f\">warned in a blog post<\/a> Monday.<\/p>\n<p>Hayes said he is buying puts on cryptocurrencies, which he expects to crash in June 2022. Hayes predicts bitcoin will slump to $30,000 from its November 2021 high of more than $68,000 and ether will drop to $2,500 from its November 2021 high of more than $4,800.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/powell-1174.jpg?w=1024\" alt=\"jerome powell\" class=\"wp-image-21855014\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/powell-1174.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/powell-1174.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/powell-1174.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Federal Reserve Chair Jerome Powell is expected to raise interest rates multiple times this year.<\/figcaption><figcaption><span class=\"credit\">AP<\/span><\/figcaption><\/figure>\n<p>Hayes, who concedes his analysis is largely based on his \u201cgut feeling,\u201d is facing problems of his own. In February, he and his co-founder Benjamin Delo pleaded guilty to charges they failed to implement basic anti-money laundering controls on their platform. The men have yet to be sentenced but could be imprisoned for as much as five years.<\/p>\n<p>\u201cJustified or not, the market lumps crypto and big tech in the same cesspool,\u201d Hayes says. He adds a person would have to believe in fairy tales to believe tech stops won\u2019t drop as the market tightens.<\/p>\n<p>\u201cIf you believe in unicorns, the Loch Ness Monster, and the Easter Bunny, then it is possible that you believe big tech will not suffer due to rising nominal interest rates, worsening global fiat liquidity conditions, and falling economic growth,\u201d Hayes notes.<\/p>\n<p>Hayes\u2019 warning comes as investors gear up for multiple rounds of interest rate hikes this year. On Friday, Goldman Sachs Group Inc. chief economist Jan Hatzius said the Federal Reserve may need to raise interest rates to 4% as inflation continues to hit new highs. According to a FactSet\u00a0estimate, the consumer price index \u2014 which will be released tomorrow \u2014 will hit 8.4% year over year. In February, the year-over-year CPI was 7.9%.\n                        <\/p><\/div>\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><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/04\/11\/bitcoin-may-plummet-to-30k-as-tech-stocks-tank-analysts\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Bitcoin may plummet to $30K as tech stocks tank: analysts&#8221; Bitcoin could slump to $30,000 as the era of cheap money comes to a close and investors move cash from speculative assets to safer bets, market watchers suggest. Analysts note that cryptocurrencies are being treated by investors much the same as speculative tech stocks. While&#8230;<\/p>\n","protected":false},"author":1,"featured_media":430049,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/bitcoin-comp.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[74862,127847,91267,76127,88397,70360],"class_list":["post-430048","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-4-11-22","tag-bitcoins","tag-cryptocurrency","tag-global-economy","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/430048","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=430048"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/430048\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/430049"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=430048"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=430048"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=430048"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}