‘We Live for This Moment,’ Crypto Exec Says of Harsh Market Contraction
— Blockchain, Opportunity, Close, Blockworks ’ free newsletter, “ increasingly, Peaked, Datatrek research, Raising rates could, Rally 41, November highs — 1 min read
Bitcoin and other cryptos are no longer the safe haven some once believed, analysts say. Futures markets have largely priced-in the likelihood of a raise no higher than 75 basis points. Tech stocks are taking a beating this year, according to Nicholas Colas, the co-founder of Datatrek Research. For the Nasdaq to regain its November highs, the index would have to rally 41% from Wednesday’s close, Colas said. “When will US tech stocks get back to their November/December 2021 highs?” Colas asked, “Exactly as long as it takes the S&P 500 to get. back to its highs, because tech…is such a large part of the S. Source