Ethereum

Bitcoin

when

<p><strong>The world of traditional finance recently experienced a historic day, marked by a colossal loss of over 2.9 trillion dollars in market capitalization. This black day is reminiscent of the March 16, 2020 crash, when the Covid-19 pandemic caused a steep decline in financial markets. However, cryptos seem to be resisting this crisis.</strong></p>
<h2 id="h-black-day-for-traditional-finance">Black day for traditional finance!</h2>
<p>The tech giants, such as Microsoft, Tesla, and Google, have suffered significant declines in recent days. This bearish trend is fueled by disappointing financial results. Additionally, growing concerns about the profitability of massive investments in AI, for which the EU has just adopted <a href="https://www.cointribune.com/en/the-eu-takes-the-reins-of-ai-with-historic-legislation/" target="_blank" rel="noopener noreferrer nofollow">a legislation to regulate this sector</a>. Traditional and crypto investors, once optimistic, are worried. They are beginning to wonder if these companies will be able to truly profit from their investments in the short term.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p>Several factors explain this sharp decline in tech stocks. First, the high expectations of investors regarding tech companies’ profits have been disappointed. For instance, Tesla reported a 45% drop in its spring profits. This fueled fears of an overvaluation of tech stocks. Furthermore, concerns about the profitability of investments in artificial intelligence have also weighed on investor sentiment. Despite this storm in traditional markets, cryptos are showing some resilience.</p>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://bitvavo.com/fr/affiliate/coinmedia?a=_cta" target="_blank" rel="noopener noreferrer nofollow">€20 bonus for registering on Bitvavo</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">This link uses an affiliate program.</a>
</div>
<h2 id="h-the-resilience-of-crypto-assets">The resilience of crypto assets!</h2>
<p>Bitcoin (BTC) is expected to reach $60,000, while Ethereum (ETH) could stabilize around $2,800. This relative stability of cryptos contrasts with the volatility of tech stocks! It offers a glimmer of hope to investors seeking alternatives to traditional markets.</p>
<p>As traditional markets go through a period of turbulence, cryptos may, therefore, attract the interest of investors. The ability of Bitcoin and Ethereum to maintain relatively stable price levels could attract more investors looking to diversify their portfolios.</p>
<p>This black day for traditional finance highlights the importance of diversification and vigilance in an ever-evolving financial environment. Cryptos, with their relative resilience, could offer an interesting alternative to investors seeking stability. They might turn to Bitcoin, which MicroStrategy has just <a href="https://www.cointribune.com/en/microstrategy-strengthens-its-bitcoin-holdings-with-805-million/" target="_blank" rel="noopener noreferrer nofollow">reinforced its reserves with $805 million</a>!</p>

Crypto: Traditional Finance Collapses and Loses $2 Trillion!

Table of Contents

Cointribune EN

Other articles published on Aug 3, 2024

Is Dogecoin on the verge of a bullish breakout? What you should know

Bitcoin Prices Drop Sharply

Coinbase Sees $1.4B Revenue in Q2 Amidst Regulatory Shifts

Top Cryptocurrency Picks for Returns in 2024; Dogecoin (DOGE) Pawfury (PAW) Layerzero (ZRO) Pixel...

Crypto Scam Alert: Loopring Breach and Ripple Deepfake Debunked

Bybit Shuts Down Operations In France Following Regulatory Heat

Join our free newsletter for daily crypto updates!