HAS THE STOCK MARKET CRASH BEGUN
🐒 The Dow has fell from a high of 26,616.71 to close today at 24,345.75 that is a drop of 2270.96 points in just 6 trading days , down ( -8.53% ) from the high
🐒 The S&P has fell from a high of 2872.87 to close today at 2648.94 that is a drop of 223.93 points in just 6 trading days , down ( -7.79% ) from the high
Below is a daily 6 month chart of the DOW
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Below is a daily 1 year chart of the S&P 500
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A question for the community if the Stock Market does crash how do you think it would affect Bitcoin ?
Please feel free to comment below.
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everything is crashing right now
Correction would be 10% so we are still a good 3% off from that so tomorrow I believe will be another day of tanking with a possible mini recovery towards the end at closing if things start to look oversold.
I think we are just in for some rather stag-nit and low Feb for sure. With a possible pick up again March and April which is what we normally see when looking back at the history of stocks and crypto. This makes me want to invest even more!! :D
It won't be good. Bitcoin seems to be unlike gold in that Bitcoin tends to go up when times are getting better and vice versa. In fact, I'm sure that there's at least one stock market pro passing around the theory that Bitcoin might be a leading indicator for the stock market.
Given that Bitcoin turned south about a month before the stock market did, that's a hunch which might get some traction.
Somewhat Related: 'Round here, the oldbies have been telling everyone to HODL. Adjust for terminology, and stock-market pros are saying the same thing. Just read five or so articles on this Bloomberg feed and you'll see it:
https://www.bloomberg.com/news/articles/2018-02-04/asia-stocks-brace-for-selloff-bond-rout-deepens-markets-wrap
I've spent some time noodling around a different forum, in a couple of threads filled with experienced investors. What's noteworthy is how little fear there is. The bulk of those investors are taking the dip in stride. Many of them are philosophical in a "what goes up must come down" way.
I don't know what's going to happen to the stock market; I really don't. What I do know is that there's surprisingly little worry.
Yeah.., I thought that was a little weird, that nobody seemed worried at all!
A small part of me thinks it's a little eerie, but only a small part.
Not that it matters: I'm long gone from the stock market. But still...
I was down on Wall St the other day (not finance related, Im a bartender), the whole place gives me the creeps!
Yeah; it was more fun when the shibes turned the Wall Street Bull into the Wall Street BullDoge :)
Hahahaha -- I love it!
There is definitely a lack of a sense of humor down there...
Not a good sign, that lacking.
At the current time. Bitcoin price low but I belive that bitcoin price increasing soon..
It's a great time to buy the Dip!!! The whales will be back into play real soon... Just heard that the Big Meeting tomorrow for ICO's and Crypto in the U.S. has already been pre-determined... Heard that ICO's are still a no go and as far as Crypto goes the government is for it... So BUy up all you can at these Low Low prices, because the market is about to Moon Shot!!!
Bloomberg is really pushing the idea that cryptocurrency is not the new gold (i.e. a safe haven for stock market correction). I totally believe that they are wrong and trying to manipulate the cryptocurrency market to favor the stock market. I know someone that was trying to sell gold and gave up because everyone wants cryptocurrency. I think cryptocurrency is the new gold, but not in the same way we have used gold in the past. The reality is the stock market moves much much slower than cryptocurrency. It would take the stock market forever to recover from a recession, while cryptocurrency will recover in far less time and potentially outperform the stock market many times over. The fact that the cryptocurrency market is down is a bonus. I think investors can make massive profits if they dump stock for cryptocurrency right now. Even if cryptocurrency goes down further, it will still recover in less time. Bitcoin however could be a bad decision. STEEM is the new gold!
Great informative bitcoin post
Sir
I believe that the crypto currencies would make some positive gains, thogh for how long or how much...I have no idea.
The real question though is what exactly could have caused these .crashes?
Hoping you can provide us with your valuable insight.
Here is my introductory post by the way... finally got around to posting it...
https://steemit.com/hot/@order4adwriter/let-s-all-steem-on-phillip-afa-freelance-copywriter
Good Theme!
I think it would be bullish for Bitcoin if the Stock Market crashed
Bitcoin go up
Bitcoin go down
I buy more
When it hits the ground