Cryptocurrencies continue to sink which is happy news to those of us who have money on the sidelines and have been waiting for some of the froth to blow away before buying in. Stocks also took a solid leg down today but not nearly as drastic as the cryptos. Both asset classes have seen a lot of upside in recent months and although the picture is looking rosy for both in the long term, bullish investors may have got a little greedy as they chased gains into increasingly risky leveraged positions.
Well, today the market is getting what the dr. ordered: a healthy dose of fear. VIX, which is an indicator of investor fear, has shot back up to a more reasonable level. But don't worry, while the medicine tastes bad it's what was needed. The overall picture looks good, and even better the more hype gets cleared off the table.
Now that crypto prices have dropped through my targets I am slowly adding to my position. I like shopping when there is panic in the air.
d-_-b
