In a technical analysis video, the director of FinGraphs Jean-Francois Owczarczak opined that NASDAQ is related to cryptocurrency and both their weekly and daily graphs show a total uptrend. However, he highlighted that the NASDAQ’s risk index on both the weekly and daily graphs is getting overbought.
This might lead to some price correction in the NASDAQ and growth trades that can in turn result in some regression in Bitcoin and other cryptocurrencies in the coming weeks. As of now, the uptrend is still in place, and it is expected that it will stay that way until next spring for both Bitcoin and Ethereum.
Owczarczak gave an in-depth opinion on Bitcoin saying it:
Despite Bitcoin’s fall from its all-time high of nearly $65,000, Ark Invest’s Cathie Wood is quite confident that the flagship cryptocurrency could hit $500,000 within the next five years.
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Source: Cryptocurrency - investing.com
