"Hmm, maybe it's possible, maybe not, the movement of the crypto market is even more strange now."
Bitcoin (BTC) at the opening of today's Asian session market recovered slightly to $67,677, but the cryptocurrency market is currently undergoing a consolidation phase ahead of the much-awaited BTC halving event.
Following the S&P 500's year-end estimate of 5,200 is still supported by Goldman Sachs Group Inc strategists, who also project a scenario where tech megacaps* could drive the index an additional 15%.
*Stocks with capital or market value above $200 billion
According to strategist led by Davis Kostin, his firm is sticking with existing projections because the direction of the federal funds rate and the trajectory of economic growth have already been fully evaluated by both financial and crypto markets.
If the 15% rise in tech stocks materializes, the crypto market could see an uptrend following the rally in tech stocks indicating that investors may be keeping a broad portfolio for investment.
Please note that this bull run is a bit different than before as there are many online trading platforms and BTC ETFs that make it easier for investors, retail and institutions to generate good profits.
Now with the growth in stocks, expected interest rate cuts and the approaching BTC halving event, the probability of the opportunity for continued BTC price increases is high.
As of this writing, BTC price has surged by 3.14% to $66,585 in the past 24 hours with a market cap of over $1 trillion but is still down 1.19% over the past week.
