Experienced analyst Gary Savage warned about the possibility that the recent surges in Bitcoin and NASDAQ may not continue.
In a social media post dated March 19, Gary Savage made statements that worried the risk markets. Pointing out that the recent price increases in Nasdaq and Bitcoin might be an illusion, the experienced analyst predicted that the declines might continue.
Highlighting the recent poor performance of companies engaged in Bitcoin mining as the reason for the declines, Gary Savage argued that the profitability of these companies and the decrease in stock values would also affect the price of Bitcoin.
Emphasizing that investors should not develop a false sense of security by assuming that this time the situation will be different, the analyst noted that a similar situation was observed in commodities such as uranium and gold in the past. He reminded that as the prices of these commodities approached their peaks, declines in mining company stocks began.
