RE: US Stocks, Aussie Dollar, Silver all up - US/China trade war priced in - Can Bitcoin find a bottom as risk comes back?
I think the argument about Bitcoin being safe haven is about there being no default risk and if we do have a big debt crisis and banks start falling over like they threatened to do in 2008 then Bitcoin will be "relatively" safe compared to holding money in one of those banks accounts.
Sure there's no counterparty risk and see why that's attractive, but the fact is the correlation to safety just isn't there - seems to be the exact opposite.
Huge call you're making on the SPX having a bottom. I respect that, but I won't be convinced until we take out a new high.
I've been well and truly FOMO trained on this one. Every time I thought it was done, it wasn't. Every time I thought it was a risky buy it was a perfect trade and the few times I shorted I got fucked or breakeven :)
Decent rip higher in the correlated markets today and VIX got knocked down. Hopefully it follows through and you can be proven right.
Also, if you want a long term safe haven there are only 2 I look at. Gold and Silver :)
Yep everything is looking mighty fine indeed :)
SPX bears trying to scuttle the rally here at the inverse neckline, but looks like it will break higher I reckon