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Economist Henrik Zeberg has warned that Bitcoin (BTC) is far from being a unique safe haven, instead describing it as a highly risk-prone asset that mirrors the performance of the Nasdaq. According to Zeberg, both markets are closely interconnected due to their ties to the technology sector, he said in an X post on August 9. Nasdaq and Bitcoin chart. Source: TradingView His Analysis , supported by historical price movements, shows Bitcoin and the Nasdaq rising and falling in near-perfect sync in recent years.  “BTC is not a “special asset”. It is a Risk Asset. In fact, a highly Risk-prone asset. <…> TechBubble2 is developing. BTC is part of that. <…> A crash in Nasdaq as the bubble bursts, will crater BTC,” he said.  This correlation, he noted, is no coincidence, as investor sentiment toward high-growth technology stocks also applies to Bitcoin. The cryptocurrency thrives in risk-on environments but struggles during...

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Gold bug and economist Peter Schiff says there are two possible outcomes of the Federal Reserve’s action on the U.S. economy. One outcome leads to “a massive financial crisis and severe recession” as stocks, bonds, and real estate crash. In the second outcome, “the world will run away from the dollar,” the economist stressed. Peter Schiff on U.S. Economy: Two Possible Outcomes Gold bug and economist Peter Schiff continued to share his view on the U.S. economy and the Federal Reserve’s efforts to bring down inflation this week. Regarding where the U.S. economy is headed, he tweeted Saturday that “There are two possible outcomes.” Describing one of the outcomes, he detailed: The Fed succeeds in returning inflation to 2%. Stocks, bonds, and real estate all crash, ushering in a massive financial crisis and severe recession that includes government defaults & spending cuts. Moving on to discuss the second outcome, he wrote: “Or ...