Bitcoin Devil BlackRock Expects 20% More Plummet: Creates Opportunity in the Long Run! - Coin Bulletin

BlackRock CEO Larry Fink stated that the markets could drop another 20%, but emphasized that the current decline presents a buying opportunity in the long term.

In his speech at the Economic Club of New York, Fink acknowledged that the market could fall further, but stated that he sees the current situation as an opportunity for long-term investors. He also noted that inflationary pressures are higher than market participants expected, and said that many investors believe the U.S. is in a recession. As such, Fink said he doesn't expect the Federal Reserve to cut rates later this year.

Last month, Fink sent a letter to his shareholders stating that Bitcoin could pose a threat to (BTC) US dollars. In his letter, he pointed out that if Americans see cryptocurrency as a safer asset instead of the dollar, the dollar could weaken.

Markets went into a major upheaval following the announcement of new tariffs on imported goods by U.S. President Donald Trump. Bitcoin has dropped by 5% in the last 5 days and lost 11% of its value in the past month. Stocks experienced an even worse decline, with S&P 500 losing 13% and Nasdaq losing 15%.

Fink's warning about Bitcoin's impact on the dollar reflects a broader concern about how cryptocurrencies could transform traditional financial systems. If interest in cryptocurrencies increases, this could significantly alter financial structures.