April 15, 2024 14:42 | 2 minute read |
Last trading week saw stocks and stock indexes such as the S&P 500 fall after better-than-expected inflation data and a potential interest rate cut by the Federal Reserve could be delayed until late 2024. It was suggested.
Major cryptocurrencies Bitcoin (CRYPTO:BTC) also fell this week due to these market trends.
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So between broad market indexes and apex cryptocurrencies, which assets are better to buy on the bullshit opportunity?
Investing in Bitcoin, S&P 500: The term push buying refers to buying an asset when prices have fallen in the short term.
Drops often present buying opportunities for assets that are expected to perform well over the long term. Benzinga recently surveyed its users to ask which assets are better buying opportunities right now.
“Which is the best opportunity to buy on the market right now?”
The results are as follows.
- S&P 500 Index: 54%
- Bitcoin: 46%
The S&P 500 narrowly beat Bitcoin in the poll, meaning more investors surveyed see a short-term buying opportunity in the major U.S. stock index. There is.
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Why it's important: The S&P 500 is S&P 500 ETF Trust (NYSE:SPY) hit several all-time highs in 2024. The tracking ETF is currently up 25.6% over last year and 7.8% year-to-date in 2024.
Higher inflation, slower interest rate cuts and escalating international conflicts could limit short-term gains for the broader stock market and the S&P 500 index as investors assess the implications for next year.
With macroeconomic factors in the spotlight and international tensions rising, the recent series of highs hit by stock markets could ease.
Bitcoin is up 113% over the last year and 46% year-to-date in 2024. His optimism for Bitcoin grows in 2024 ahead of the approval of a Bitcoin ETF and the upcoming Bitcoin halving.
The Bitcoin halving event, which occurs approximately every four years, often leads to an increase in the price of the major cryptocurrency.
Bitcoin is often seen as a safe haven that attracts investors during times of stock market uncertainty, making it a key asset to watch in the coming weeks.
The study was conducted by Benzinga from April 12, 2024 to April 15, 2024, and included responses from a diverse population of adults ages 18 and older. Participation in the survey was completely voluntary and no incentives were offered to potential respondents. This study reflects results from 322 adults.
Read next: Investment expert predicts S&P 500 index to fall 13% by year-end with 4,500 target: 'I don't see a good reason to increase the multiple'
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