The G20 meeting outcome was a definite spark for the stock market, not just the US but globally. This is what the market wanted to hear, but let’s not get ahead of the market quite yet. As for Cryptos, sentiment continues to decline. It “feels” as if the market has been judged and deemed to perish at the hands of the bears.
This type of discouragement and frustration is normal in markets. It is part of the cycle and the emotions investor’s and traders deal with constantly. Regardless if it is the dotcom, biotech or crypto boom, the consolidation after overbought moves is often long and painful. Enter the “quickening” where only the best survive. Unfortunately it is not very quick.
Just last week in the stock market, it was Doomsday 3.0 for tech and chip stocks. They were talking recession the end of the bull run, and after one dinner, the tree is out and the lights are up and Santa is eating cookies by the tree. Sentiment can change on a dime, it only takes a catalyst. Unfortunately in cryptos we have no catalyst; at least yet.
This content is lockedLogin To Unlock The Content!
This is a Premium Member article. In order to access it, you must be a subscriber and logged in. To learn more click here.