Erm my question on this front is that what is the correlation with stocks and crypto? Why does Evergrande and China’s pot of tea affect the crypto markets? If anything it should even boost the crypto markets, except ofcourse there is no correlation and today just happened to be another “monday” in crypto.
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Fiat Money for crypto comes in and out. For instance if the market looks like it's going to crash they can either move to stable coin, or withdraw into fiat cash. Fire sales happen when markets crash. Those 'traders' who play the market move around their portfolio's. When the FED pumps, that fiat can come into crypto / stock markets.
Well, let’s be honest, if crypto pumped it is mostly because of free money thanks to central banks.
As bankruptcy are happening and there are more and more tapering / risk-off: CryptoMarkets will suffer as other risky assets unfortunately.
That is the sad truth. But if stocks market holds ! Then we might be okay 😉
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I hate to believe that but sadly it’s the truth. Urhgh
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