It's not finished yet
The markets have rallied back hard over the last couple days, due to the announcement of massive quantitative easing. I think people are mistaking this for a V bottom recovery and many will be kicking their ass for jumping back in to the market. To think that this market is just gonna turn around on a dime is absolutely wrong. We have never had a market crash this fast and this hard only to have a V bottom recovery. Most stock market crashes of this magnitude take many months to play out and I think this one has just started. Nope, the bailouts are not going to turn this thing around right now,.. not for a long ass time!
Everyone was excited to see gold bounce from 1450 all the way up to 1700 only to fall back to 1630 today. I believe that gold will not be spared from the coming deflationary crash that's coming. I want to make it clear that I'm a long term gold bull but now is not the most opportunistic time. The corona is still spreading at it's fastest rate since it's inception and there's no signs of it slowing down right now. The quarantines will help knock it back, but I'm afraid it's going to come right back.
I have no idea how Crypto will react to further downside in the stock market, but I wouldn't be surprised to see it completely decouple. Crypto will be in for a turbulent ride over the next few months but at this point, I'm willing to go for a ride and see where it takes me. Bitcoin was created as a solution to a broken financial system and right now we're witnessing it collapse right before our eyes. This is exactly what brought me to crypto, the demise of the fiat debt based economy and it's unsustainable inflation.
I'm in it until the end!
Cybz