Will The Global Markets Collapse?? – CRYPTO NEWS
Things are getting pretty serious for Bitcoin and cryptos, including Dogecoin, as the future of global markets is looking pretty bleak right now. Bitcoin has fallen back to the lower price region. With this dip, it has fallen below the support zone around 39K. And this means that things are getting more and more bearish for it.
Meanwhile, we can see that there is extreme fear sentiment in the market, and investors are not willing to show confidence in Bitcoin and cryptos. And it appears that Bitcoin and Dogecoin are going to face more troubles in the coming days since the global stock markets are tumbling.
Similarly, chief commodity strategist at Bloomberg Mike McGlone, believes that bitcoin may take a dive back to the 30k level once again. He believes that the upcoming week for risk assets like Bitcoin and stocks is going to be rough.
Investor are turning to gold-based exchanged-traded funds for safety amid the Russia-Ukraine conflict and resulting stock market volatility
Moreover, global stock markets are now worth $110 billion, which looks expensive for the current situation. So this means that investors are currently avoiding stock markets and they are seeking safe haven in gold.
So the thing is that investors are now avoiding both stocks and cryptos amid this war situation, and they are now heavily investing in gold. In fact, investors are turning to gold based ETF for safety amid the Russia Ukraine conflict and resulting stock and crypto market volatility.
So seeing this worsening condition of global markets, analyst Pen Toshi is saying this in a tweet,
The most exciting thing this year. Will be global markets collapsing. Any market that trades above 0 will be too high. They will call this. “The greater depression” which will be 10x worse than the Great Depression.
— Pentoshi 🐧 (@Pentosh1) March 6, 2022
So the point is that global markets are currently down and we may even see more volatility in the future. Dogecoin price has fallen by 6.67% in the past 7 days. The price declined by 1.61% in the last 24 hours. In just the past hour, the price shrunk by 0.85%. The current price is $0.1211 per DOGE.