Buy Bitcoin if S&P 500 Corrects Lower, Fund Manager Suggests

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Investors should consider buying Bitcoin if the S&P 500 breaks lower, according to Victor Dergunov, co-founder of Albright Investment Group. The cryptocurrency’s upside potential is substantial, even if it falls towards $6,500. Spot gold is also an attractive investment alternative against a slippery S&P 500. Bitcoin is an attractive destination for investors looking to shield themselves from the next stock market crash, asserts Victor Dergunov. The co-founder of Albright Investment Group, a Connecticut-based investment firm, said the cryptocurrency has adequate upside potential, even though its recept attempts to break bullish on a critical resistance level near $10,000 have failed. BTCUSD logs a decent recovery after falling 10% from its $10K high | Source: TradingView.com, Coinbase He noted that bitcoin might have found a bottom near $8,700, a level that capped the cryptocurrency’s downside correction from flourishing throughout May 2020. Mr. Dergunov took cues from a “constructive” bitcoin futures that were…

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