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‘Be Prepared for More Downside’ in Bitcoin; Does it Preview Markets?

Schwab Network

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Michael Purves expects a strong rally into year end, tracking trading and volatility patterns over the last few months. “I think you want to be long…big, solid companies,” like big tech, large-cap banks, and similar. He lays out his bull case for the rest of the year and discusses how an upcoming new Fed Chair changes the calculus for market participants. He sees a “problematic” long-term momentum signal for Bitcoin as crypto slumps.

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