The futures market has been halted after it crashed 5% soon after opening. Things could get ugly tomorrow in the stock market. Typically when the futures sell off like this, the proceeding day crashes pretty hard. I know of so many people that bought in to this bull trap, thinking they were buying the dip. I can't believe people are so blinded by greed right now, it's hilarious! It's pretty obvious that this isn't a dip, it's a full on crash that could take months to play out.
The market has become a one trick pony, making all their decisions based off the feds money creation announcements. No matter how bad things are in the economy they think that more money equals higher prices. And although that has been true over the past ten years, the economy has never faced a problem like the one it's facing now. The coronavirus has popped the biggest financial bubble in history and no amount of money printing is going to save it this time. They might be able to slow it down and flatten the curve (kinda like the coronavius's spread) but it's not a solution.
Is it crypto's time to shine?
With so many crypto bears out there calling for lower prices, I think crypto is about to something that nobody's expecting. Although there is multiple indicators suggesting that bitcoin will fall, including a death cross, double top and a 45% crash in hashrate, I think bitcoin is about to leave many people left behind. We've seen bitcoin do this in it's last cycle, it was a head fake! I'm willing to hold strong and go along for the ride whichever way it goes.
Cybz
