Nvidia’s stock crash won’t stop analysts: Bitcoin bullish
Despite a significant crash in the tech stock market, particularly affecting Nvidia, analysts remain optimistic about Bitcoin’s future.
The tech industry is witnessing a seismic jolt with the launch of DeepSeek’s AI model, competing with OpenAI’s ChatGPT in a neck-with-neck fashion. The tech stock market has crashed, and ripples have been felt in the crypto market as well. However, analysts remain bullish on Bitcoin (BTC).
The effects of this have rippled across the tech-related stock market, resulting in a historic $600 billion wipeout of the U.S. tech sector, as per The Guardian. Now, President Donald Trump has come out calling this development a “wake-up call” for American industry and called for a renewed drive for innovation.
Nvidia, a widely followed stock that dominates the tech sector with its leadership in AI and computing innovations, fell by nearly 17% in the last 24 hours. The crypto industry has not been spared from the crash, as well. On Jan. 27, BTC fell below $100K, causing the altcoin markets to tank with it.
Interestingly, the AI crypto sector also saw a huge loss– dropping by 12%. Arthur Hayes of BitMEX had already predicted that investors would be moving away from the U.S. market and looking for a haven in global options like crypto.
Now, more analysts have joined him in support of crypto. According to a report by 10x Research, while the crypto market seems turbulent, BTC will revive. The report also states that the current headwind will bring more investors towards BTC and other decentralized assets. Further, Matrixport, a financial hub that operates in the Asian market, also shared the same sentiment.