The recent market turmoil caused by higher-than-expected inflation data has left investors wondering where to find the best buying opportunities. Last week, both the S&P 500 and Bitcoin experienced a dip in prices, prompting the question: which asset is the better buy-the-dip opportunity?
According to a recent poll conducted by Benzinga, 54% of investors see the S&P 500 as the better short-term buying opportunity, while 46% favor Bitcoin. The S&P 500, represented by the S&P 500 ETF Trust (NYSE:SPY), has seen several record highs in 2024 and is up 25.6% over the last year.
On the other hand, Bitcoin has gained 113% over the last year and is up 46% year-to-date in 2024. Optimism for Bitcoin has been on the rise, especially with the approval of Bitcoin ETFs and the upcoming Bitcoin halving event, which historically has led to higher prices for the cryptocurrency.
With macroeconomic factors and international tensions impacting the market, both the S&P 500 and Bitcoin present unique opportunities for investors. While the S&P 500 may offer stability and long-term growth potential, Bitcoin’s status as a safe haven asset during times of uncertainty makes it a key asset to watch in the coming weeks.
The results of the poll reflect the diverse opinions of 322 adults surveyed by Benzinga from April 12, 2024, through April 15, 2024. As investors navigate the current market landscape, the debate between the S&P 500 and Bitcoin as the better buy-the-dip opportunity continues to unfold.
