History doesn't repeat itself, but it certainly rhymes. Let's look at the BTC chart: lower highs, lower lows from double top. What have we seen in the past -> significant drops. Personally, I'm all for innovation and technology, but make no mistake that institutions are not blindly buying at the top and BTC is veering away from it's core principles after the financial crisis (there's still a middle man!). With this level of volatility and automated trading, there is bound to be a major pull back and it's starting to crack. Economic numbers are not horrible, but they are "lagging." Unemployment is not great with more layoffs being announced every day, interest rates are still high, unsecured debt is ultra high, and affordability is at 30-40 year low. Don't let the champagne effect of S&P fool you, things are NOT rosy!
Always do your own due diligence and all the best!
Always do your own due diligence and all the best!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.