Brutal day on Wall Street
Image source: images.google.com
Wednesday was brutal.
The Dow Jones Index fell by 831.83 points - equivalent to 3.1 percent, while the S & P 500 Index fell 3.3 percent. However, the atmosphere has probably been the worst among people with Nasdaq shares.
The index experienced a dive of 4 percent, and it all matters to the worst day for eight months, and at the same time the day with the third largest ever fall.
It writes several international media, including The Street and CNBC.
New financial crisis on it's way and it's that good for the crypto world ?
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Agree!
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I don't think a financial crisis which would amount to a liquidity squeeze would be good for crypto in any shape or form.
I think this is just the beginning. At first I believe it will drag all markets down but after a while I think crypto and precious metals markets will take off.
Good for the crypto world if you ask me..
I think crypto investors are about to see the "GREENS"
I am not sure how the prices of crypto currencies will behave. But I'm sure it will drive the technology forward. Right now, a lot of investment money is tied up in various companies. A crash will cause a lot of bankruptcy and both money and heads will be freed up to move the blockchain technology forward.
It's really hard to say. After all, the crash in 2009 is what helped create Bitcoin. However, crypto right now has so much influence from cash markets, it most certainly will equate to lower prices in the crypto realm as well.
It's about time we hit a recession. I'm a bit worried but all I can do is buy some more crypto with my fiat scraps and hope I can weather the storm.
Yes, when the dollar crises fully engages the crypto world will move in and possibly take over. It isn't ready yet (unfortunately). I am expecting a mean bounce here after the CNBC Markets in turmoil segment! See my post and you will know why "Markets in Turmoil" is rater BULLISH lol
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"New financial crisis on it's way and it's that good for the crypto world ?"
I don't think this is the start of a new financial crisis because the economic data is still very good in the us. We will probably make a recovery from this, for now.
When there will be a bear market, not like this correction we have seen, people will panic. Usually almost everything goes into sale especially the most speculative investments.
When you look at gold, it always dumps with the market when there is a crisis and then make a nice recovery. I expect this to be the same for bitcoin because it's similar to gold, bitcoin is digital gold.
Not all cryptocurrency will probably react the same way to a crisis. People buy bitcoin as a store of wealth or hedge while some altcoins are very speculative. I expect the speculative coins to do bad while the more stable coins will probably do better during a crisis. Bitcoin, monero, binance coin or stablecoins is probably the way to go.