Can Bitcoin decrease to $ 20,000 if Nasdak falls in the bear market?

Bitcoin price movements are often linked to the performance of American technology shares, especially NASDAQ. According to the veteran investor and Bitcoin critic Peter ChefThis link can be made up for the largest cryptocurrency in the world if the Nasdaq Stock Exchange enters the bear market.

Chef predicts: Bitcoin to 20 thousand dollars?

Chef noticed that Nasdak has already decreased by 12 % and warned that if this correction turns into a full bear market, Bitcoin may face a sharp decrease. “If the Nasdaq Stock Exchange decreases by 20 %, Bitcoin will be about 65 thousand dollars,” he wrote in a post on X (previously Twitter).

Quoting historical data, Chef highlighted that the previous bear markets witnessed a significant decline in Nasdak. “After the bubble explosion, nearly 80 % decreased,” he said. If the index decreases by 40 % this time, the Schiff expects that Bitcoin will drop to $ 20,000 or less.

While Bitcoin has risen this year, and it is fueled by institutional flows in the Instant Bitcoin Investment Funds and increasing dependence in the prevailing, Schiff argues that the collapse of the stock market can lead to group qualifiers, which pressure Bitcoin more. He warned, “The decrease in this size would accelerate the collapse of Bitcoin to much lower levels.”Meanwhile, Chef indicated that the relationship between Nasdak and gold was negative. He said: “Since Nasdak reached its climax on December 16, 2023, gold has risen by 13 %, which is nearly a perfect counter -relationship from 1 to 1.” If the shares decrease sharply and weaken the dollar, the Schiff expects that gold will rise more than $ 3,800 an ounce.

He also suggested that such a scenario can undermine bitcoin confidence as a value store. He added: “Since this difference is likely to break the idea that Bitcoin is similar to gold, there will be no justification for the American government or any state government to hold bitcoin in a strategic reserve.”

Nasdak decreased 12 %. If this correction turns out to be the bear market, and the relationship in which it decreases by 12 % on the Nasdaq Stock Exchange is equivalent to a 24 % decrease in Bitcoin, when the NASDAC exchanges by 20 %, Bitcoin will be about 65 thousand dollars.

But if you enter the Nasdak Stock Exchange in the bear market, date …

– Peter Chef (@PETERSCHEFF) March 16, 2025

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