Bitcoin's Bullish Explosion Is Good News For The Stock Market

Nov. 18, 2024 9:27 AM ETSPY, GLD, BTC-USD1 Comment
Hugo Ferrer
708 Followers
(9min)

Summary

  • Markets are reacting to the "Trump effect," with stocks and Bitcoin soaring, while Gold faces a correction due to geopolitical factors and dollar appreciation.
  • Bitcoin has surged past its previous high, driven by optimism about Trump's pro-crypto stance and Elon Musk's involvement in the proposed government efficiency initiatives.
  • Gold's recent correction is attributed to its volatile nature and the dollar's short-term appreciation, but its long-term uptrend remains intact.
  • Despite poor official employment data, other labor metrics suggest the job market isn't as weak, possibly influenced by temporary factors like hurricanes.
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After a couple of weeks, the markets continue to quote the Trump effect: stock markets rising on the expectation of more growth, interest rates, and the dollar soaring on the expectation of that higher growth and more inflation, Bitcoin conquering for the first time the $90,000

This article was written by

708 Followers
Professional investor registered in Spain, Professor of the Stock Market Expert Degree at the University of Alicante (Spain) and columnist in several national media.

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