Black Monday FUD un Sunday
It‘s Sunday afternoon and it seems as if we won‘t get at least a technical relieve rally tomorrow. Bitcoin, as a 24/7 asset indicates, with its drop below the 80k mark, that investors begin to fear a black monday stenario as we saw it about 40 years ago in 1987.
On Monday, October 19, 1987, the S&P 500 experienced a dramatic collapse, dropping by 20.5%. The crash was driven by a combination of factors such as overvaluation of stocks, panic selling, and the influence of computerized trading algorithms, which exacerbated the sell-off.
Could that happen tomorrow? Well it could. Is it likely? Well I think rather not. And the good news, looking back to 1987 is: Despite the sharp decline, the S&P 500, like other indices, began recovering relatively quickly, and the crash did not lead to a prolonged economic recession. That’s obviously a fear that is growing. But nobody knows and we will habe to wait and see at the end of the day.
Bitcoin
Concerning Bitcoin it is crucial we stay above that big support zone of 70-74k. Otherwise it gets more likely that the bull market is over already and that we have seen the cycle high back in January when 1 BTC cost 109k USD. I doubt that but it is bot impossible. At the moment we are trading at 79k…
What do you expect tomorrow and next week in general?
