Bitcoin hints to restore the large stock market, according to Tom Lee from Fundstrat – Here’s the reason
Tom Lee of Fundstrat says that Bitcoin (BTC) indicates the climb of the stock market for one major reason.
In a new interview on the CNBC’s Squawk, Lee He says This bitcoin has increased to unprecedented levels since President Trump announced the definitions on April 2, indicating that the shares may soon print a great recovery as well.
“Yes, I think the new highlands are possible this year [for the S&P 500]. One of the reasons is that companies have proven that themselves to manage them through shocks, and I do not think that investors give them sufficient credit. This happened with Kovid. The companies survived. Companies survived the impact of bulls on the economy. They survived an increase in inflation. They have survived the federal reserve bank as soon as possible. So I think this trauma of customs tariffs, while it is horrific, I think profits will likely outperform expectations. This will be one thing.
Then I think the things that led us to the bottom, whether they were Tesla, Mag 7 or Bitcoin, have begun to recover. In fact, Bitcoin is higher than the second level of April. I think Bitcoin, as I think, tells us that the S&P should recover towards the 5800 level in the short term. This is still upside down from here. ”
Bitcoin is trading for $ 93,828 at the time of writing, a decrease of 1.8 % in the past 24 hours. Meanwhile, the S&P 500 at 5,673 at the time of writing this report.
Li also says that inflation data in the United States indicates that the Federal Reserve can start lowering prices sooner and not later, which will increase the market liquidity.
“The Federal Reserve has been suspended, and they say they are waiting for definitions. But the interesting thing is that the European Central Bank (the European Central Bank) was reducing rates although there is an amplification tariff that strikes Europe, or soon to strike Europe. The reason is the management of European Central Banking inflation, HICP (consumer price coordinator index), and excludes a shelter.
IThe Federal Reserve has excluded shelter from the basic inflation account, which is lower than Europe now, however money exceeding 225 basis points are more strict than Europe. So I can actually sympathize with the argument that the federal reserve must cut now, even if we do not know the effects of definitions. “
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