The Bitcoin price (BTC) rallied to around $7,300 on April 3, and BTC is still holding onto the $6,700 support level, meaning the price could push the dominant cryptocurrency to the $8,000 area. But, a highly accurate hedge fund manager’s stock market warning could rattle the cryptocurrency market in the short-term.
Dan Niles, the founding partner of Alpha One Capital Partners, said in a note to clients that the dire economic consequence of the coronavirus pandemic could lead to a steeper correction in the U.S. stock market.