Bitcoin Price Set to Surge 14% as S&P 500 Faces 10% Drop
1min read Market commentator Miya has presented a compelling theory suggesting that the Bitcoin price is set to reach $110,000 by the end of the year. This prediction is based on current macroeconomic conditions, which Miya believes will favor Bitcoin.
In her analysis titled ‘The Big Short against Retail,’ Miya anticipates that the S&P 500 will drop to 4,700, indicating a challenging summer for the stock market. She expects that this downturn will drive investors towards Bitcoin as a safe haven, leading to a significant price increase for the cryptocurrency. Miya's forecast comes as the stock market has experienced nine consecutive days of gains, a trend she believes is unsustainable.
Miya's predictions are rooted in the idea that the market is heading towards a dire macroeconomic situation, which could cause stocks to crash. She points out that the market is currently pricing in promises made by Donald Trump, including lower rates, tariffs, and taxes. Traders are betting on a rate cut in June, and the US and China are set to agree on lower tariffs. However, Miya warns that this perceived strength in the market is an illusion and that a crash is imminent.
Miya argues that the recent earnings reports from the ‘Magnificent 7’ companies are misleading and do not reflect the true state of the market. She explains that the actual impacts of tariffs will be seen in the second half of the year, as technology, media, and telecommunications (TMT) firms that manufacture physical hardware typically operate in waves. This means that the full effects of tariffs have not yet been felt.
Miya's analysis suggests that Bitcoin will serve as a hedge against the upcoming macroeconomic challenges, leading to a surge in its price. At the time of writing, the Bitcoin price is trading at around $96,500, reflecting a 2% increase in the last 24 hours.
Ask Aime: "Will Bitcoin become a $110,000 safe haven this summer?"
