Here’s the state of the DOW Jones this week:
Now the problem with the stock market is that often, even though it is higher than it has ever been, this scares people to sell.
In fact, FUD on the stock market is lethal and can drive depressions.
On the other hand, we have the cryptocurrency charts…
This past month has been hard for anyone entering cryptocurrency for the first time, but the veterans had seen this before and knew it would come again.
Now comparing those two charts one thing is evident, they aren’t following each other closely. In fact, during the massive “crash” that cryptocurrency experienced in January, the stock market continued on an upward trend.
Although, now the opposite seems to be happening.
Could this be the flippening? A point in time where money starts to flood towards cryptocurrency from the stock market? It is too early to say, but with the DJI moving down as steeply as it is, has many investors worried.
And for a good reason.
Economic collapses aren’t overnight; they happen as a little bit moves out of the market every day until people wake up and realize that a majority of the money is gone and they need to take theirs out.
Make sure to watch both Cryptocurrency and the Stock Market in the next few months.
While we reported on Binance being down for trading and withdrawals yesterday, they are back with a vengeance.
Binance Reopens Trading With 70% Off Fees
Yesterday Binance was halted for trading based on a server error.
Now, because of the inconvenience that it caused and accusations by John McAfee on a possible hack (which was completely fake) they are back with 70% off fees.
— binance (@binance_2017) February 9, 2018
Not only is this a pleasant surprise to day traders and people looking to accumulate cryptocurrency alike, but it is great to reignite a bullish market.
Much of Bitcoin passing $8k and holding those levels happened without Binance.
Where will the market be heading next? We are bullish.
Thanks for reading,
The GCA Team