Stock markets are highly volatile this year and the macroeconomic conditions have been relentless in dragging down share prices across the board. The S&P 500 (SPX) has dropped around 16.6% this year while the Nasdaq Composite tanked 25.9%. Inflation is soaring and the Fed has been raising interest rates in a hawkish monetary policy stance. Even cryptocurrencies like Bitcoin (BTC) have not been immune to this downward spiral, with the preeminent digital currency losing around 34% of its value so far this year. In this scenario, investors seem to have been playing into the ‘buy the dip’ advice, per a Wall Street Journal report from May 10.
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