As equities markets around the world drift sideways or struggle to make new highs some are calling for a top in the current business cycle and staock market rally. Today the US Fed did not raise interest rates while the US economy posted a first quarter GDP growth of 3.2%, yet inflation remains low. Asset prices are not priced into inflation, looking at stocks and real estate they are looking very over valued and a correction may need to take place before they can be bid up to new highs.
I want to share a video I came across today that has one finanical guru calling for upto a 40% correction in the US stock market and a theisis that money will flow from stock markets to cryptocurrencies as a result, pushing the price of Bitcoin to new highs 3 times higher then the previous highs set in the begining of 2018.
Take a look at his technical analysis and listen to the fundamental factors that Fausto Botelho from Enfoque Informações Financeiras, Brazil believes will cause this rotation of capital from stock markets to cryptocurrencies.
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