Dan Ives, one of the most influential technology analysts in the global financial world, painted an optimistic picture of the economy and the technology world in his latest show. Despite the pessimistic market sentiment, Ives made notable predictions on artificial intelligence (AI), US tech stocks and Bitcoin ($BTC).
Ives said the tech sector is still in the early stages of an “up cycle.” He viewed the current selling pressure and market pessimism as a “misguided approach.”
Stating that Bitcoin has proven its value as an asset class, Ives drew a direct connection between $BTC and technology stocks. According to Ives, it is impossible for an investor who believes in technology and innovation to remain indifferent to Bitcoin:
“It’s impossible not to be bullish on Bitcoin if you believe in disruptive technologies and the future. Bitcoin is now an asset class closely linked to technology investments.”
Ives suggested that a major Bitcoin “breakout” could happen much sooner than markets think.
Ives, in assessing Bitcoin’s current price movements and its correlation with tech stocks, painted a rather optimistic picture, contrary to general market sentiment. According to the analyst, this Bitcoin breakthrough will not simply be an increase in prices, but the result of the full integration of the asset class into the technology ecosystem.
“Many people think that Bitcoin will be sidelined, but we are actually much closer to a breakthrough than they think. If you believe in technology and the digital future, you cannot ignore the potential of Bitcoin.”
*This does not constitute investment advice.
