Breaking News China - Antshares could retrace further as worse than anticipated economic data is released from China
The Caixin China Services PMI figures have just been released.
With a reading of 51.6 we could see a bearish trend continue on Antshares (NEO) until confidence in China is restored.
Have a good day frothers,
Me and Scotty are hitting the waves with his new board just arrived from his sponsor. Yewww!
Fish @beachbuminvestor
I am not able to understand is it positive ? Right now it's already down by -8%
Hi @ajgar. I actually see Antshares retracing as far as the $6.00 mark. The trade volumes are high which is usually a bullish reading (that's a good reading). BUT because most of the investment is coming from China. I see a bearish result (that means bad result) as an indication of a weakening Chinese economy.
This means there will be less money available to invest in Antshares. Less demand will send the price lower. But this is only my opinion and more economic data is released every day.
http://www.myfxbook.com/forex-economic-calendar
Use this link. Click on any economic reading and it will give you a very good description of the data as well as it's likely impact on the economy.
I leave mine open all day. It beeps at me if a reading comes out. Pretty hard to miss if you do it this way.
Let me know if you have any questions about overlaying real world economics with the crypto-economy.
Cheers,
Fish