Blackrock CEO, Larry Fink said that the market could see another 20%drop, but that current withdrawal is a long -term purchase opportunity because the current situation has no systematic risk.
“I see it more as a purchase opportunity than a sale opportunity, but that does not mean that we cannot go further,” said Fink during an appearance at the New York Economic Club on Monday.
He noted that inflationary pressure is greater than what market players expect and that many already believe that the United States is in a recession. Consequently, it does not provide that the federal reserve reduces interest rates this year.
Last month, Fink published a letter to the shareholders, warning of Bitcoin’s threat (BTC) for the US dollar, which could weaken if the Americans believe that cryptocurrency is a safer asset than the dollar.
The markets, including the cryptography market, have been agitation since the American president Donald Trump announced that a multitude of prices on goods imported in the United States BTC is currently negotiating 5% in the last five days and 11% lower in the last month. The shares were even worse with the S&P 500 and the Nasdaq down 13% and 15%, respectively.
