Jim Kramer (Jim Cramer), a financial media mogul, said on Thursday that he was uneasy about the idea that a volatile cryptocurrency appears to be affecting trading in U. S. stocks.
With the sharp rebound of Bitcoin and other cryptocurrencies, Dow JonesIndustrial average, S & P 500 and NASDAQThe index rose on Thursday after falling yesterday.
Bitcoin returned to a crazy roller coaster on Wednesday, with US stocks tumbling 30 per cent to a three-month low of nearly $30000 in early trading before rebounding sharply and are now hovering around $42000.
Kramer said that Wednesday's intraday rally in the stock market may have something to do with the afternoon rebound in the encryption market. "this is crazy. It's crazy. "
Global capital markets tumbled and panic spread on Wednesday. In addition to the collective collapse in digital currencies, stock markets in Europe and the United States fell across the board and commodities also tumbled.
Analysts believe that as the global attitude towards cryptocurrencies has become more cautious, the market bubble has burst and prices have plummeted. As some hedge funds have previously participated in the market, the collapse of the cryptocurrency could lead to the emergence of unwinding positions, which in turn causes other markets to follow suit. In addition, the previously released higher-than-expected inflation data in the United Kingdom and South Africa also aroused market concern again.