Analysts split on whether Bitcoin will lift or drag markets
Fidelity's Jurrien Timmer argued a new bull market could be starting.
By Standard Topic. AI-generated from the reporting listed under Coverage. Published . Updated .
This story is no longer being updated. It reflects reporting up to .
What happened
Mike McGlone, a Bloomberg Intelligence senior commodity strategist, said Bitcoin may have to prove strength, or dominoes could tumble for stocks and metals. Fidelity's Jurrien Timmer argued a new bull market could be starting. McGlone noted that stocks, metals and copper have not followed Bitcoin lower this time.
Why it matters
McGlone warned that a Bitcoin slide could spread to stocks and metals. Timmer's view points to a possible bull run instead.
Coverage
- Bitcoin’s Next Move Could Shake Stocks And Metals: Bloomberg Strategist Warns As Fidelity Sees Bull Run (Yahoo News)
- Bitcoin At A Turning Point: Bear-Market Risks Vs. Bullish Hopes (stocktwits.com)
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