The CEO of a major trading platform warned that the new stock market crash would come in less than a month, and investors should take that into account now.
On Tuesday, in a series of tweets, Yoni Asia, CEO of eToro, predicts a crash that will happen “in the next three weeks”.
Stock market help: Buyer warned
When Arya claimed that new stock growth was speculative, Asia said there is now reason for the correction.
“Soon there will be a collapse (in the stock market), over the next three weeks, some who are not sure who will sell / downgrade and defeat the markets,” he wrote.
“Buyers beware. Be careful.”
A grim warning comes after weeks of unusually strong population growth, which came despite persistent coronavirus actions and massive American protests.
Meanwhile, Bitcoin (BTC) has increasingly stopped movements in the overall market, providing reliable shelter for those who want to avoid risks.
The S&P 500 added about 400 points in May and is now at around 3,200, 200 points less than early March. At the height of the crash, the index fell to at least 2232 points.
Meanwhile, Bitcoin became the most effective total asset in the second quarter with a return of over 50%.
“Managed by speculation”
As reported by Cointelegraph earlier, doubts about stocks have long since come from Bitcoin supporters who claim government interference in the form of stock buybacks creates artificial competition in the market.
Three months after the first massive crash in March, such interventions are only gaining momentum, and the European Central Bank has been the last to double the size of its stimulus plans.
Asia paused, noting that the warning was a financial advice for any investor.
“For illustration only, I think we will have (a correction), because this growth appears to be the result of speculation about individual investors. Historically, these rallies end in correction.”
“On the other hand, money is printed with unpaid amounts, and interest rates are zero.”