Market Update: DOW 23,438 (-422 points) VIX 37.78 (12.91%)
According to Market Watch the DJIA (Dow Jones Industrial Average) is down over 400 points today, which in total has dropped over 3000 points from a high of 26,616!
Now Bitcoin/Crypto seemed to take the dip first, however since this decline in the stock market it seems that Bitcoin is starting to recover as well as all of the other cryptos!
Conclusion
So if you have been paying attention then this is no surprise..
And maybe this time people will start to see the real value in distributed ledger technology!
Thanks for checking this out and let me know what you think in the comments below!!
Post - Vote - Earn 🤘 🤑
Disclaimer: Now as I always state I am not an Investment Adviser, and this is not investment advice. This is always for entertainment purposes only!
The good thing is that bitcoin is rising while stocks are crashing, which means investors are viewing bitcoin, and major cryptos like Litecoin/Ether by extension, as a safe haven in times of turmoil.
I was really afraid that the stock bubble will drag cryptos down with it when it pops, but it appears that may not be the case.
I agree. The inverse correlation between stocks and crypto is starting to be apparent. Hopefully this trend continues. This could be extremely bullish for crypto in the next few months.
Bloody Hell :D
Looks look we are finally getting the panic selling we all have been rooting for.
Thanks for the article, and nice charts. I was trying to get a chart on my last post but couldn't manage it.
Here's my take on recent developments in the markets:
https://steemit.com/finance/@lrmcdowell/update-stock-market-vs-crypto-market-the-perfect-storm-part-2
The money is flowing out of the bond market and the stock market, and entering crypto 😝! Cheers.