Today was my first time looking into shares in-depth, like I never knew what the Dow Jones really meant, but from Google it says "The Dow Jones Industrial Average (DJIA) is a price-weighted average of 30 significant stocks traded on the New York Stock Exchange (NYSE) and the NASDAQ." So basically, higher = better.
After losing 6% in a day and global stocks taking a $4 trillion dollar hit, apparently it's enough to cause global panic.
However, enough about stocks as I honestly have done less than an hour's worth of research and have no idea what I'm talking about, more about how MAYBE in the slightest everything is connected (watched Dirk Gently's Holistic Detective Agency recently)!!
Firstly, I'm not saying this theory is grounded in any factual evidence, in fact I'm basing this theory off a few comments from forums on the dark web. This is just for shits and giggles as I finally see a few green candles in the hourly.
- First you must understand I saw this pop up on Reddit
- Then this
What if...
- Whales are selling off shares to buy crypto??
- Perhaps they've been pumping up shares for a while, giving it some unsustainable growth like cryptos experienced earlier this year and December last year, so they can sell at the peak.
- They thought fuck, crypto has much more potential, I wanna buy crypto but entry point a bit high, let's FUD it down to "5k" or "7k"!!
- FUD comes in
- Crypto TAKES A GIANT DUMP
- FUD dissipates... CRYPTO KEEPS DUMPING due to the whales manipulating the market
- Finally bought enough as prices dip to 6k
- Removes sell orders
- Price already above 7k, looking cautiously bullish (is that a term???)
- They will probably want to hodl until ATHs
- Win for everyone apart from those who sold at around 6,000, which shouldn't be too many as volume was very low during that time, and people who sold and don't plan to come back in. I sold a small amount at $8,000 and bought back at $7900 profit lol.
I am NOT a financial adviser, and this isn't intended to be a super serious discussion, just some off-topic fun!
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haha i do love a good illuminati theory. i do think there's some merit to the idea that investors funneled money back into crypto, seeing the lows. not much about the fundamentals has changed that dramatically except the China banning news (which is obviously big). no doubt some whales are making good money on the vol!
There are a lot of newcomers that started in fall op 2017. And getting week hands now.
I just saw your post shortly after posting something myself about the DOW. Here's a link if you'd like to check it out.
https://steemit.com/bitcoin/@mattje9601/what-does-the-dow-jones-chart-really-look-like
This is an interesting theory.