Hi trader, let's talk about Bitcoin,
Bitcoin.
Nothing much has happened since our last market update.
The cryptocurrency is showing no signs of volatility on the spot market:
Meanwhile the stock market is correcting...
... but will likely recover and aim to prolong its historical 10 years bull run:
The longer time-frame reveals that the stock market is indeed in a bubble, the chart is starting to go parabolic...
... and could pull a 2017 Bitcoin before the bubble gets pricked and drag our economies into a recession.
I leave you with this very entertaining interview of Bitcoin-skeptic Peter Shiff on the Joe Rogan podcast:
Strategy.
Nothing has changed as far as our strategy:
- Avoid trading the chops as Bitcoin is grinding at the bottom, instead accumulate your favorite coins at a discount.
- Keep your eyes on the S&P500 for signs of correlation with the stock market (especially in the event of a more severe correction).
Until then,
FØx.
This content is for informational purposes only and does not constitute financial advice.
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by FØx