Bitcoin Remains Steady Amid U.S. Tariffs adn Market Turmoil
As U.S. tariffs impact global trade, teh stock market is taking a hit. But Bitcoin is holding up better than expected. Joe burnett, a market analyst at unchained, sheds light on this trend.
U.S. stocks have had a rough time lately. The Dow Jones dropped over 2,200 points in two days. Yet, Bitcoin (BTC) is showing strength. burnett believes this could be a good time to invest in Bitcoin.
On April 4, the Dow Jones saw its worst two-day drop in history. Despite this, Bitcoin has shown resilience. It gained 2.2% in the last 24 hours. This is good news for those looking to diversify their portfolios. Burnett notes that Bitcoin’s performance mirrors its behavior in 2020. Back then, Bitcoin recovered faster than stocks. This could mean Bitcoin is a safer bet during economic uncertainty. He shared his thoughts on Twitter. He thinks now might be a great time to buy Bitcoin.
Why is Bitcoin doing well? Burnett says it’s as of its unique position. When markets panic, Bitcoin frequently enough recovers quickly. In 2020, Bitcoin led the market recovery. It could do the same again.Investors are watching closely.
Bitcoin’s price has not fallen since March 11th.
Bitcoin’s resilience could signal that stocks are close to their lowest point. The AAII investor sentiment survey supports this. It hit 19.11% on March 13,the lowest since the pandemic. Such pessimism often precedes a market rebound.
Though, Burnett warns that Bitcoin isn’t out of the woods yet. If stocks keep falling, Bitcoin might too. But for now, it’s showing promise as a safe haven.
