It's a risk-on day across the board...
Hope you bought the coronavirus dip!
Stocks are up, bitcoin is up, oil is up, just about everything is up today.
Check out the Dow:
(Source: https://finance.yahoo.com/quote/%5EDJI?p=^DJI)
The impact of the coronavirus is real and will last for a while longer still, that was never up for debate.
But, financial markets tend to bottom at peak fear and peak fear often hits well before the actual crisis starts to resolve itself.
Which means...
Financial markets and risky assets were likely to make lows long before the economy actually starts to recover.
In fact, it's possible we have already seen the lows.
I would bet we saw the lows in bitcoin for sure, and possibly in stocks as well.
Stay informed my friends.
-Doc
btc bottom maybe but I can't believe you, especially you, would think this is stockmarkets bottom
Yeah that's full on crazy talk. This bear market is going to last 2-3 years. Central banks are poised to buy everything. Even if USD doesn't hyperinflate, so many other fiat currencies will.
Hyperinflation is also good for stock prices.
lol that's messed up.
funny and true.
Brrrrr :)
I think it's way too soon for a stock market recovery. Plenty of small businesses are closed right now, and airlines are hurting, etc. I'd rather wait it out before getting back in. I do believe that BTC bottomed though...
Stocks will bottom and turn back up long before the business does. Stocks are forward looking by 3 months on average.
Value of my company is up by 6792.9% since two weeks ago... It's HODL time, not buy time...