Analyst Explains Why He Is Bullish On Crypto And Tech Stocks

According to a crypto analyst, known as InvestAnswers, says that the existing economic landscape looks very good for digital assets and technology markets.

In a recent video update, the analyst shared with the 432K subscribers to his YouTube channel that Euro fell 5% against the US dollar in a short period of time.

He notes that the EUR/USD drop happened right as the Federal Reserve raised interest rates by 25 basis points. This could mean that opposite to what many investors believe, capital will not be flowing out of the US and into other markets, but instead will keep chasing the big names in crypto and US tech stocks, InvestAnswers argues.

“That can drive a huge amount of money movement… That’s how much cash there is in the system. The system is flush with cash. Money needs to find a home and billions will flow to chase those 25 basis points. That’s the world we live in. That’s why we are still early. That’s why I’m so amazingly bullish on where we are right now in winning names like Bitcoin and Tesla and a whole bunch of others.”

The analyst reveals that the largest holdings in his portfolio are Bitcoin and Tesla due of their disruptive nature. He also notes the two assets are strongly correlated.

“It’s not by chance that they happen to be my two biggest bags. Obviously, they perform very well but I went into them hard early with a mission in mind because I saw them both being very, very disruptive…

Correlation is extremely important. If you had gotten into Tesla between 2017 and 2019, you would have had a better ROI (return on investment) than owning Bitcoin. Isn’t that stunning? And remember, Bitcoin has not even begun.”