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Earlier this month, the price of Bitcoin (BTC) surged beyond $50,000 following the successful launch of spot Bitcoin ETFs in January. Nevertheless, macro indicators are sending cautionary signals, despite the S&amp;P 500 achieving record-breaking highs surpassing the 5,000 mark earlier this month. 
<h3 id="a-1987-style-us-stock-market-crash-coming">A 1987-Style US Stock Market Crash Coming</h3> 
While the S&amp;P 500 and other US indices have been roaring to new highs, it largely comes with a push from the top 10% stocks. Since reaching its most recent low point in October 2022, the magnificent seven stocks including Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla have surged by almost 117%, greatly surpassing the performance of the remaining 493 companies in the S&amp;P 500 index. 
As per the Kobeissi Letter, the top 10% of stocks in the US contributed to 75% of the entire market value. This marks the highest level of stock market concentration since the Great Depression in 1931. 
During the Dot-com bubble of 2001, the concentration of the top 10% of stocks reached approximately 72%. Even before the 2008 Financial Crisis, the concentration of the top 10% of stocks peaked at around 66%. On average, the top 10% of stocks represent about 64% of the entire stock market. 
As a result, renowned Bitcoin advocate Max Keiser warns of an impending financial downturn reminiscent of the 1987 crash. Keiser asserts that Bitcoin heralded as the ultimate safe haven asset, will skyrocket beyond $500,000 as investors seek refuge from traditional market volatility. Furthermore, Keiser predicts a continued erosion of gold’s status as a monetary asset in favor of Bitcoin. 
In addition to Bitcoin’s projected ascent, Keiser anticipates regulatory crackdowns targeting Bitcoin exchange-traded funds (ETFs) and domestic Bitcoin miners, potentially leading to government seizures. “If they can do this to Trump they can certainly seize Bitcoin held in BTC ETF’s &amp; commandeer US BTC miners,” he <a rel="nofollow" href="https://twitter.com/maxkeiser/status/1760541256692686895" target="_blank">added</a>. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 1987-style crash coming. <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>, the ultimate safe haven, will soar past $500,000 
 Gold will continue getting demonetized by <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> 
 BTC ETF’s (&amp; domestic BTC miners) will get seized by U.S. gov. 
 1 million middle &amp; upper class migrants will flood into <a href="https://twitter.com/hashtag/ElSalvador?src=hash&amp;ref_src=twsrc%5Etfw">#ElSalvador</a> <a href="https://t.co/zx3NbrkV5m">https://t.co/zx3NbrkV5m</a> 
 — Max Keiser (@maxkeiser) <a href="https://twitter.com/maxkeiser/status/1760451906881585482?ref_src=twsrc%5Etfw">February 21, 2024</a>
</blockquote> 
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The 1987 crash was influenced by various factors: Economic growth saw a slowdown in the initial three quarters of 1987, coupled with a surge in inflation. This economic backdrop, reminiscent of the stagflation period of the 1970s, left investors on edge. Moreover, the stock market had already experienced a nearly 10% decline the week preceding Black Monday, intensifying investors’ anxieties. 
<h3 id="blackrock-hosting-digital-assets-summit">BlackRock Hosting Digital Assets Summit</h3> 
While Max Keiser has taken an <a href="https://coingape.com/bitcoin-maxi-max-keiser-bitcoin-etfs-have-zero-impact/" target="_blank" rel="noopener">anti-Bitcoin ETF</a> stand, the world’s largest asset manager BlackRock continues to pull fresh inflows into its <a href="https://coingape.com/are-investors-flocking-to-blackrocks-spot-bitcoin-etf/" target="_blank" rel="noopener">iShares Bitcoin ETF</a>. 
Later today, BlackRock will host the Institutional Digital Assets Summit, an event drawing attention from the financial world. This summit comes at a time when BlackRock’s Bitcoin ETF stands out as the top-performing ETF of 2024, marking its sole digital asset offering on the market. 
Essentially, the summit is poised to serve as a strategic platform for promoting Bitcoin to institutional investors, making it akin to a specialized Bitcoin sales conference tailored to meet the needs of large financial institutions. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4a5.png" alt="💥" class="wp-smiley" style="height: 1em; max-height: 1em;">JUST IN: BlackRock is hosting the Institutional Digital Assets Summit tomorrow. 
 Their <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> ETF is the best performing ETF in 2024, and their only listed digital asset product. 
 It's basically going to be a Bitcoin sales conference for institutions… <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f60e.png" alt="😎" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/z3l4Q0OeGV">pic.twitter.com/z3l4Q0OeGV</a> 
 — Bitcoin Archive (@BTC_Archive) <a href="https://twitter.com/BTC_Archive/status/1760372059757052346?ref_src=twsrc%5Etfw">February 21, 2024</a>
</blockquote> 
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The post <a href="https://coingape.com/bitcoin-maxi-expects-btc-price-at-500k-with-a-1987-like-us-stock-market-crash/">A 1987-Style US Stock Market Crash Is Coming, Bitcoin Price Rally to $500K?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

A 1987-Style US Stock Market Crash Is Coming, Bitcoin Price Rally to $500K?

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