Home Business AEX rises to its highest price ever, a ripple effect for Bitcoin?

AEX rises to its highest price ever, a ripple effect for Bitcoin?

AEX rises to its highest price ever, a ripple effect for Bitcoin?

On Tuesday, the price of the Dutch stock index AEX broke the previous record. The closing price ended at 831.09 euros, while the previous record was just under 830 euros per share. There is a lot of optimism in the market, which is likely due to a variety of factors.

AEX breaks previous record

One can say that the record is not yet a major breakthrough, after all, the closing price is just above the previous record. How the price will develop for the rest of the working week will shed more light on the situation on the overall market.

In any case, it is clear that the AEX continued its upward trend after a small consolidation from mid-December to mid-January. The price has already risen by 5.1% since the beginning of the year and by more than 8.3% since the local low point in mid-January.

One can speculate about the reasons for this significant increase. The Netherlands has officially been in a mild recession since August last year. At the end of last year it seemed to be getting worse, but it turned out it wasn’t that bad. Things aren’t looking so bad in the USA either, although the economy there is stronger than many analysts initially thought.

In addition, productivity in the United States has increased significantly, according to other economic data. This could be due to the introduction of artificial intelligence (AI) in the workplace. Tools like OpenAI’s ChatGPT and MidJourney make it possible to get a lot of work done quickly.

It is difficult to say whether such figures have also contributed positively to the increase in AEX, although the new AI tools are of course also available in the Netherlands. The Dutch government is also very progressive in the area of ​​AI.

Numbers from the technology sector could be a signal for Bitcoin

Perhaps more important for the price of the AEX is that many Dutch companies that are part of the AEX have reported good quarterly and annual figures. The largest company in the index is the chip machine supplier ASML, which has managed to benefit significantly from the high demand for computer chips, for example for AI.

Technology companies in the AEX in particular have developed well. In recent years, the price of Bitcoin (BTC) has been most highly correlated with technology stocks. If this continues, it could have a positive impact on the Bitcoin price.

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