Bitcoin Price Plummets Below $80K Amid Stock Market Crash Fears: Is 1987 Black Monday Scenario Looming?

Bitcoin (BTC) experienced heightened volatility as the week closed on April 6, with concerns of a stock market crash contrasting with optimistic BTC price projections. Data from Cointelegraph Markets Pro and TradingView indicated BTC/USD dropping below $80,000, marking a 3% decline since the week began. The week saw sudden fluctuations due to US trade tariffs and recession fears impacting risk assets. US stocks, particularly the S&P 500 and Nasdaq Composite Index, suffered significant losses, leading to comparisons to the 1987 Black Monday crash. CNBC’s Jim Cramer expressed concerns over a potential market crash scenario similar to 1987. Despite the turmoil, some predicted positive outcomes for Bitcoin, with Max Keiser suggesting BTC/USD could reach $220,000 by the end of the month. Traders observed a disconnect between Bitcoin and stocks, with expectations of a possible upsurge in BTC prices. Analysts and traders shared contrasting views on the market’s direction, with some anticipating a significant move in the upcoming week. The article does not offer investment advice, and readers are encouraged to conduct their own research before making financial decisions.

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