Wall Street Bull Warns! “US Stock Markets Could Collapse, Bitcoin (BTC) Could Fall Further!”
Ongoing US-Iran tensions have driven up oil prices, causing global stock markets to fall and the dollar to strengthen.
At this point, one analyst stated that there is a 35% chance that US markets will collapse because high oil prices threaten both inflation and employment.
Speaking to Coindesk, veteran strategist Ed Yardeni stated that the likelihood of a stock market crash this year has increased with oil prices surpassing $100, the dollar having its best week of the year, and the conflict with Iran spreading to Saudi Arabia.
At this point, leading Wall Street bull Ed Yardeni raised the probability of a US stock market crash this year from 20% to 35%, and also warned of further selling pressure on Bitcoin (BTC).
Yardeni said that despite Bitcoin’s relatively stable performance, it could face additional selling pressure if the likelihood of a US stock market crash increases.
In contrast, it reduced the probability of a market rally to just 5%.
Yardeni said that the US economy and stock markets are in a difficult situation due to the ongoing problems with Iran.
He stated that the rise in oil prices would confront the Fed with a difficult policy choice between the risk of rising inflation and the risk of increasing unemployment.
*This is not investment advice.
Continue Reading: Wall Street Bull Warns! “US Stock Markets Could Collapse, Bitcoin (BTC) Could Fall Further!”
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