Bitcoin falls below $80K amid a rerun of 1987 Black Monday

BitcoinBTCThe weekly BTC close on April 6, 2018 was volatile as investors feared a crash in the stock market, but were encouraged by bullish price target expectations.

CNBC Cramer says 1987 crash was not “off the table yet”

Data from Cointelegraph Markets Pro You can also find out more about the following: TradingView BTC/USD dropped below $80,000 in one day. This is a 3% drop since the beginning of the week.

In the days between, there were several episodes of volatility due to US tariffs on trade and concerns about recession.

US stocks are particularly important recorded significant losses, with both the S&P 500 and Nasdaq Composite Index finishing the April 4 trading session down nearly 6%.

“Trump’s tariff announcement this week has wiped out $8.2 TRILLION in stock market value — more than was lost during the worst week of the 2008 financial crisis,” Holger Zchaepitz is an author, financial analyst and commentator. summarized In a response to X.

Some people compared the opening of the week to last weekend, wondering how it would be. “Black Monday” The social media has been buzzing with the news of a crash from 1987.

“It’s tough to build a new, weaker, world order on the fly,” Jim Cramer hosts CNBC “Mad Money” segment, argued On X this weekend.

“Frantically trying to do it but don’t see anything yet that takes the October 87 scenario off the table yet. Those who bottom-fished are sleeping with the fishes …so far.”

Cramer warned about a live 1987 broadcast scenario, but subsequently reasoned Market circuit breakers are control mechanisms that can be used. “could slow things down.”

Bitcoin groups also made some bold predictions about how the markets will behave on a short-term basis. Max Keiser – the controversial Bitcoin enthusiast who has been popular for his predictions – predicted BTC/USD to reach a staggering $220,000 in the next month.

“A 1987 style mega crash will push Bitcoin to $220,000 this month as trillions in wealth seek the ultimate safe haven: Bitcoin,” He wrote Cramer’s X-response is a part of the response. 

Bitcoin resists copycat BTC price dive

The divergent sentiment between traders and investors regarding Bitcoin and stock prices was increasingly apparent.

Related: Bitcoin crash risk to $70K in 10 days increasing — Analyst says it’s BTC’s ‘practical bottom’

Many believe the BTC market could see a significant price increase in the near future after having survived the shock caused by the new tariffs.

$BTC – #BitcoinWe can certainly go down first. I do believe that we are nearing the end of this cycle. pic.twitter.com/dp6otpgE16

— Crypto Caesar (@CryptoCaesarTA) April 5, 2025

Bitcoin is gearing up for a breakout next week — the $150K run might just be starting!$BTC #Bitcoin pic.twitter.com/jNWNoiHnwo

— @CryptoELlTES (@CryptooELITES) April 5, 2025

“$BTC Volatility going lower and lower while the $VIX (Volatility Index) on Stocks has closed at the highest level since the Covid Crash in 2020,” popular trader Daan Crypto Trades acknowledged His latest analysis.

“This is pretty unheard off and due to this compression I’m pretty confident a large move for crypto is going to occur next week as well. Whether it’s up or down comes down to whether stocks can find a bottom early in the week or not I’m assuming.”

Cas Abbe, another trader suggested it. recent $76,000 lows On BTC/USD, you may get a fake breakdown.

“This looks no different than the post-ETF dump and August 2024 crash,” He told X Followers 

“I’m waiting for a weekly reclaim of $92,000 to confirm the uptrend.”

The article is not intended to provide investment advice. Each investment or trading decision involves some risk. Readers should do their own research before making any decisions.