Guess why? Yup. Because of crypto currency miners. NVIDIA goes up 2,5% today while the market continues to fall.
Nvidia Corp's (O:NVDA) graphic processors, or GPUs, are so overwhelmingly popular that gamers and cryptocurrency miners are willing to pay up to three times the original list price to get their hands on its cards online.
Reuters Reports.
As we're speaking, the Crypto market is looking more bullish by the minute. We have some difficulties ahead, and levels we have to break. But my theory is that if we look at the stock market it's well overdue for some correction.
How far could we correct? I have no idea. I sold all my robotics ETF's before the crash, and I'm not considering buying in again yet. I think it should correct more. I did buy Ethereum, and I ALMOST bought more ETH today, but I couldn't quite press the button - which I of course regret a little bit now. But the volume did not seem good enough for me. I think the odds of the crypto market falling back down is too high. But IMO it's a tuff call. I'm like 51-49 in favor.
As you can see. Volumes are not high. But there could be other explanations. There could be people waiting. There could be technical levels that turn people off. IDK.
But as people lose faith in the stock market, and their money diminish with several percentage points yearly due to inflation, people will look to other investments. If this crash is the big one, we will see wealth shifting hands as it has never happened before in history.
Hang on people. It's going to be a ruff ride!