The post Bitcoin Bulls and Stock Market Woes: Max Keiser’s Forecast appeared on BitcoinEthereumNews.com.

Bitcoin maximalist Max Keiser has made an assertive call on how the US stock market will evolve and the role of Bitcoin as a financial safehouse. The outspoken Keiser has posted on his X account that he thinks the US stock market is on the verge of a significant downturn as in 1987, dubbed the” Black Monday.” The doom forecast comes together with the observations of the changing flow of investments; funds are now allegedly moving from the gold exchange-traded funds (ETFs) to spot Bitcoin ETFs. Max Keiser Predicts Stock Market Crash Again Keiser’s warning parallels the current market dynamics and the period running up to the 1987 stock market collapse, a day that saw a massive sell-off and is remembered as Black Monday. The crash, which happened on October 19, 1987, led to a mass loss of around $1.71 trillion in total market value, drawing a comparison to the economic turbulence of the Great Depression Stocks are setting up for another 1987 style crash. #Bitcoin will emerge triumphant as the ultimate safe haven. Money is already fleeing Gold ETF’s and pouring into BTC ETF’s I like @CathieDWood’s @ARKInvest 👉 #ARKB ETF They are true Bitcoiners!! https://t.co/x3PIAejjJZ — Max Keiser (@maxkeiser) February 20, 2024 Suggested reasons given (which included: overinflated stock prices, climbing interest rates, and large US trade and budget deficits); are some of the factors that contributed to the 1987 downturn. Keiser’s comparison implies that he thinks the conditions are similar today, possibly pointing out that we may be on the verge of another major downswing. Keiser refers to an assertion by economist Don Johnson, who bases on the take of billionaire Stanley Druckenmiller on the 1987 crash by quoting him. This interaction of historical and current outlooks reflects some investor’s concerns about the sustainability of the stock…

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Filed under: News - @ February 21, 2024 3:26 am