Stock Market Gets Battered With One Of The Worst Intraday Falls in Market History
Cryptocurrency traders may take some delight in the knowledge that it’s not just them suffering at the moment. The stock market is also receiving a battering at the moment as we see The Dow industrials tumble more than 1,500 points, though they have recovered somewhat from today’s low.
By the close, the Dow had lost almost 2,200 points since Jan. 26, a 10% decline, some believe this marks the beginning of a correction.
Why the markets have crashed is a bit of an unknown, most so called experts are blaming the crash on trading algorithms. However, many analysts outside the mainstream news streams have been saying a stock market crash is imminent for a long time. The entire financial system is currently so over inflated that at some point – Something’s got to give.
If this is indeed the beginning of a far greater collapse within the Stock Markets we could see the Cryptocurrency Markets begin to inflate once again as money rushes out of the markets for safety. Historically Gold, Silver and other precious metals have been safe havens from economic downturns, however Bitcoin and other Cryptocurrencies can now offer the same benefits with far more besides.
Its fair to say that 2018 has started with a bang – Interesting times indeed.
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Wooow
I want to question the assertion that people will put money into cryptocurrencies during times of financial hardships.
Typically people put money into precious metals for bartering opportunities - and, historically, people see precious metals as inherently valuable. Something about those shiny objects really get people going. I just don't know if cryptocurrencies (which many people are looking at as a term of investment much like the stock market) can hold the same function.
True, this maybe more oa fantasy belief all Cryptocurrency supporters have, in reality wealth may just go back to the historically tried and tested precious metals, primarily Gold. We shall have to see I guess. Gold certainly has a good track record.
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