Market Strategist Recommends Buying Stocks Amid Sell-Off

A market strategist has recommended buying stocks amid the recent market sell-off triggered by President Trump’s tariffs. However, caution is advised for Bitcoin, which may face short-term hurdles despite its strong long-term potential.

The strategist, managing partner and head of research at Fundstrat Global Advisors, stated that Bitcoin could take a hit as the market liquidates, which happened over the weekend. The analyst predicted that February may not be looking great for Bitcoin in the near term, with the $95,000 mark possibly not being the floor for the month.

The strategist believed that Bitcoin may fall further to $70,000 before resuming its uptrend, and that further downsides will provide a buying opportunity. As for stocks, the analyst said that the market usually overreacts to external developments like trade wars.

The comments preceded a strong recovery in stock futures and cryptocurrencies after Trump paused tariffs on Canada and Mexico. The Dow Jones Industrial Average Futures was up 0.21% as of writing, while Bitcoin surged back above $100,000.

The strategist’s latest forecast aligned with his previous predictions around Bitcoin. Last month, he anticipated Bitcoin would test support levels at $70,000 or even the $50,000 range. However, he maintained a long-term bullish stance, targeting $250,000 in 2025.

At the time of writing, Bitcoin was exchanging hands at $101,179.34, up 7.44% in the last 24 hours.

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