Market commentator Miya forecasts that Bitcoin will reach $110,000 by the end of 2023, amidst projected declines in the stock market. Current macroeconomic conditions, including promised policy changes from former President Trump, are influencing this prediction. Miya cautions against complacency among retail investors, linking Bitcoin’s potential surge to upcoming stock market corrections that may expose underlying vulnerabilities.
In a recent analysis, market commentator Miya predicted that Bitcoin (BTC) could soar to $110,000 by the year’s end, citing various macroeconomic conditions that could favour the cryptocurrency. Miya connects this prediction with anticipated downturns in the stock market, particularly the S&P 500, which she projects will dip to 4,700. The idea is that as the stock market faces challenges, investors will likely flock to Bitcoin as a safer alternative.
Miya’s report, dubbed ‘The Big Short against Retail,’ highlights her concerns about an impending rough season for stocks. She describes the current state of the stock market—prolonged gains over nine consecutive days—as misleading, suggesting that such upticks are no indication of a solid foundation and will not last much longer. Her theory suggests that Bitcoin may thrive during any significant market corrections.
She pointed out that ongoing promises from former President Donald Trump, including lower interest rates and tax measures, are likely influencing current market behaviour. Traders are banking on potential rate cuts in the coming months, anticipating that negotiations between the US and China might lead to reduced tariffs. While retail traders have recently profited from dips in stock prices, Miya cautions against complacency, asserting that underlying market conditions are far from stable.
Miya believes the stock market’s perceived strength is fuelling a dangerous complacency among retail investors, who now have a staggering $57 billion allocated towards retail-acquired shares. In her view, this is a precarious setup that could soon lead to an unraveling, heralded by what she terms the “containership recession trade,” expected to impact the US economy soon.
Moreover, Miya argues that the earnings reported by the so-called ‘Magnificent 7’—the dominant tech companies—provided skewed insights into market strength. She suggests these numbers are largely untrustworthy, claiming they fail to reflect genuine stability. Since the actual effects of recent tariffs have yet to manifest fully, she expects the consequences to unfold more dramatically as production cycles come into play in the latter half of the year.
As of now, Bitcoin is trading at approximately $96,500, having increased by more than 2% in the last 24 hours, as per CoinMarketCap data. Observers are undoubtedly keeping an eye on both Bitcoin and traditional markets, trying to discern the timing of potential shifts that Miya has predicted. The intersection of these economic dynamics seems to suggest that Bitcoin may not just weather the storm but potentially emerge stronger from it.
