A known American economist suggested that there is a relationship between gold, Nasdak and Bitcoin, saying that a decrease in Nasdak usually leads to a decrease in Bitcoin.
Peter Chef explained in the publication of the relationship between the state of bitcoin and the situation of the market on the Nasdaq Stock Exchange, adding that there is a negative relationship between gold And Nasdak.
Nasdaq-bitcoin connection
Chef, who is skeptical in the famous bitcoin, said to his followers on X that Declining The financial market may affect the movement of pioneering encryption prices, saying that then Nasdak It decreases, follows bitcoin.
The economist said that at the present time, Nasdak decreased by 12 %, and may affect bitcoin. He added: “If it turns out that this correction is the bear market, and the relationship in which it decreases by 12 % on the NASDAC is equivalent to a decrease by 24 % in Bitcoin, when the NASDAC exchange decreased by 20 %, Bitcoin will be about 65,000 dollars.”
Nasdak decreased 12 %. If this correction turns out to be the bear market, and the relationship in which it decreases by 12 % on the Nasdaq Stock Exchange is equivalent to a 24 % decrease in Bitcoin, when the NASDAC exchanges by 20 %, Bitcoin will be about 65 thousand dollars.
But if you enter the Nasdak Stock Exchange in the bear market, date …
– Peter Chef (@PETERSCHEFF) March 16, 2025
However, Chef argued that once Nasdak enters the bear market, the decline will be much greater, indicating what happened in the past.
He explained that after the explosion of the Dot -com bubble, Nasdak decreased by about 80 % while during the 2008 global financial crisis decreased by 55 %, and recently, during the epidemic in 2020, NASDAC decreased by about 30 %.
He added: “The average of these three bear markets is a 55 % decrease. If this bottom of the bear is with a decrease of only 40 %, this would put bitcoin at about 20 thousand dollars. However, my bet is that a drop of this size would accelerate the collapse of bitcoin to much lower levels.”
The yellow metal continues to shine
Chef may have a downward look at Bitcoin, but he presented a more optimistic view of gold, saying that there is a negative relationship between Nasdak and gold.
He said that since Nasdak reached its climax on December 16, 2023, gold increased by 13 %, which is an ideal association from about 1 to 1.
“If this connection is also, then a 40 % decrease on the Nasdaq Stock Exchange will put gold more than $ 3800. However, I think that if the stock market in the stock coincides with a significant decrease in the dollar on foreign exchange markets, then gold will rise much higher.”
Comparison of primary gold
Chef said that even if gold is $ 3,800 of gold and bitcoin was $ 20,000, in terms of gold, virgin encryption will decrease by 85 %, adding that it is likely to end the comparison that bitcoin is a store of similar value for gold.
“It is clear that there will be no justification for the United States or any state government to keep any bitcoin in a strategic reserve. There will also be a reason for the continuation of ETF investors in their positions as well. With all this sale, it will be impossible for $ MSTR to sell enough bitcoin to avoid bankruptcy,” he said.
As of writing, bitcoin is traded in 82,433 dollars With the maximum market for more than $ 1.6 trillion.
Distinctive photo of Pexels, tradingView graph
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