However, Tone Vays believes that if the S&P 500 breaks below 3,000, it could fall another 12%. Due to the strong correlation between the S&P 500 and Bitcoin a crash in the equity markets could drag the top-ranked asset on CoinMarketCap to the $7,000 levels. Vays expects Bitcoin to consolidate “between $6,000 and $10,000 for the majority of this year.”
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