A
AscensionMan98
Kraken
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If you saw my earlier thread
Btc was at 9500, hit 9800 but then dumped to 8.9k area.
AUD is up 1.5% from the time I posted the thread but everything follows the economy
Nasdaq was 10K. Reshorted at 10.4k
Some users earlier stated that no point in shorting due to " fighting the feds". I agree. Its risky to short but I feel that one thing the Feds can't do is change the fundamentals of the situation. We had a huge rally in the stock market indexes, nearly 50% in less then 3 months due to the reasoning that corona was going to essentially disappear after the initial wave and we would be back to normal. But in states like Florida and Texas, there is a resurgence in corona cases. This negates the market's initial hypothesis that the first wave would be gone by summer. Its still here. Therefore I believe a correction of 15-25% in the equity markets, and 35-50% in bitcoin could be in play. At the very least I think those who are bullish should have a trailing stop on there shares and take some profits on there long positions. While we can go up from here its pretty limited. A few % up vs a much higher % down.
https://www.politico.com/news/2020/07/04/florida-record-coronavirus-cases-surge-348780
https://thehill.com/homenews/state-watch/505889-texas-hits-new-record-of-coronavirus-cases
https://edition.cnn.com/world/live-...05-20-intl/h_14088621c03c826b24501f7fc8827661
https://calmatters.org/newsletters/...-closing-in-california-lockdown-gavin-newsom/
Some places like california the governor closed down many businesses again.
https://www.governor.ny.gov/news/go...r-phase-three-reopening-without-indoor-dining
The planned reopening is not going to plan since the governor is not having indoor dinning.
Will we crash as low as march?
Not very likely since the market was expecting deaths in the millions and tons of people who would contract it get sick. The reality is the virus isn't that big a deal as the media makes it. Tons of people are asymptomatic which is why all those NFL athletes and NBA Chads who get covid look and sound virtually completely fine . Those who are not in the vulnerable age groups and don't have preexisting health conditions recover quite fast. Despite this the economic impact is something that impact the market in the short term ( 3-6 weeks). Long term I expect a recovery after JPOW (Fed Chairman) hits the money printers again once we are near but above march lows ( he won't risk it going to march lows tbh) and announce a second round of greater quantitative easing/ bond buybacks and reduce interest rates even further to practically right above zero ). This strategy of a second round of Fed measures worked in 2008-2009 when the economy wasn't recovering that quick so the fed chairman just announced a second more enhanced policy of bond buybacks and quantitative easing and lowered interest rates and the markets responded well.
Btc was at 9500, hit 9800 but then dumped to 8.9k area.
AUD is up 1.5% from the time I posted the thread but everything follows the economy
Nasdaq was 10K. Reshorted at 10.4k
Some users earlier stated that no point in shorting due to " fighting the feds". I agree. Its risky to short but I feel that one thing the Feds can't do is change the fundamentals of the situation. We had a huge rally in the stock market indexes, nearly 50% in less then 3 months due to the reasoning that corona was going to essentially disappear after the initial wave and we would be back to normal. But in states like Florida and Texas, there is a resurgence in corona cases. This negates the market's initial hypothesis that the first wave would be gone by summer. Its still here. Therefore I believe a correction of 15-25% in the equity markets, and 35-50% in bitcoin could be in play. At the very least I think those who are bullish should have a trailing stop on there shares and take some profits on there long positions. While we can go up from here its pretty limited. A few % up vs a much higher % down.
https://www.politico.com/news/2020/07/04/florida-record-coronavirus-cases-surge-348780
https://thehill.com/homenews/state-watch/505889-texas-hits-new-record-of-coronavirus-cases
https://edition.cnn.com/world/live-...05-20-intl/h_14088621c03c826b24501f7fc8827661
https://calmatters.org/newsletters/...-closing-in-california-lockdown-gavin-newsom/
Some places like california the governor closed down many businesses again.
https://www.governor.ny.gov/news/go...r-phase-three-reopening-without-indoor-dining
The planned reopening is not going to plan since the governor is not having indoor dinning.
Will we crash as low as march?
Not very likely since the market was expecting deaths in the millions and tons of people who would contract it get sick. The reality is the virus isn't that big a deal as the media makes it. Tons of people are asymptomatic which is why all those NFL athletes and NBA Chads who get covid look and sound virtually completely fine . Those who are not in the vulnerable age groups and don't have preexisting health conditions recover quite fast. Despite this the economic impact is something that impact the market in the short term ( 3-6 weeks). Long term I expect a recovery after JPOW (Fed Chairman) hits the money printers again once we are near but above march lows ( he won't risk it going to march lows tbh) and announce a second round of greater quantitative easing/ bond buybacks and reduce interest rates even further to practically right above zero ). This strategy of a second round of Fed measures worked in 2008-2009 when the economy wasn't recovering that quick so the fed chairman just announced a second more enhanced policy of bond buybacks and quantitative easing and lowered interest rates and the markets responded well.
