The disagreement is getting pretty stark 📉! Ben Cowen is warning everyone to keep a close eye on the Nasdaq: if it hits another new short-term low, Bitcoin will very likely follow it down to 58,000, wiping out all of this year's gains. He thinks the current environment looks a lot like 2018, and that pressure from hawkish rate hikes won't disappear anytime soon.
On the other hand, Morgan Stanley strategists see the sell-off as a buying opportunity. Right now, #BTC is a high-beta tech asset, rising and falling alongside U.S. stocks. Bulls have been hit hard by liquidations lately. Which way things go in the end still comes down to the Fed's stance—the uncertainty is sky-high! $BTC
On the other hand, Morgan Stanley strategists see the sell-off as a buying opportunity. Right now, #BTC is a high-beta tech asset, rising and falling alongside U.S. stocks. Bulls have been hit hard by liquidations lately. Which way things go in the end still comes down to the Fed's stance—the uncertainty is sky-high! $BTC
