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There’s really no way to predict what Bitcoin (BTC) or any type of cryptocurrency will do in the wake of recent global events. From geopolitical tensions, rising inflation rates, and tightening monetary policies constantly leaving investors, traders, and major banks with a feeling of anxiety.
So far, we’ve seen a good deal of ups and downs hit the crypto market throughout 2022, and February was no different – marking a turbulent slump.
(more…)People truly never learn.
If you ask any five year old if paying big bucks to name a stadium is a smart business move, they’ll tell you “no”. History has provided countless examples of this. To cite just a few……….
Since this (silly) three-day weekend has been foisted upon us, and we don’t get to trade again until Tuesday morning, I thought I’d do a crypto check-in, since that’s the only market going here on a Sunday morning which might give us some insight into the animal spirits, particularly with respect to geopolitical tensions.
As a person who is fairly heavily short assets, I am encouraged by Bitcoin’s rejection from its trendline. The beautiful head and shoulders top has been badly violated, almost to the point to which the pattern is moot, but my view is that crypto is still in a serious bear market.
OK, this was a good one (here is the extended version). The funny thing is that, the moment the commercial was over, I couldn’t remember who it was for – – – which is kind of a fatal flaw. Funny, yes. Effective? I don’t think so.
