As i published in my last report btc formed a fake , whales will be selling on this zone to after that drop .
With Markets Under Siege, It's Time To Consider Serious Portfolio Adjustment,
With the stock market in an unprecedented period of , we are all sometimes forced to make tough decisions. The recent turn of events around the potential impact of the coronavirus has unfolded with incredible speed, leaving many to wonder what could happen next, and no clear answer.
While global markets are today rising along with energy companies getting a boost from U.S. President Donald Trump's suggestion he may intervene in the Saudi-Russian oil price war, the bigger picture remains murky and difficult to assess. Before yesterday's uptick, the S&P 500 had plummeted 30% in just four weeks and it's anyone guess what tomorrow may bring.
Also BTC plummeted and went up in a fake to get lower levels.
The increased uncertainty, rising levels of , and potential for a slow economic recovery have resulted in the shifting of assets in my portfolio, reducing my equity holdings, and raising cash. With my fear that the economic outlook could grow even worse and the potential for the stock market to fall further, it seemed to be the right thing to do.
Global stock markets have so far failed to respond decisively to many of the actions that the central banks around the world have taken to try to calm nerves. Even with fiscal policy in many countries now on the table, the equity markets continue to fall.
It indicates a few points of concern, with one being that the future is very uncertain or that the policies governments and central banks are taking may not be enough to solve the potential fallout. The lack of convinced response from the equity markets seems to present the most significant concern.
Estimates May Be Too High
Additionally, it seems possible that the current environment could severely impact companies' performances as governments try to slow the spread of the virus by closing borders, and in some cases shutting down. It could result in some companies seeing a whole quarter or two of reduced revenue and , and that means that estimates for the broader S&P 500 may be too high.
How this can affect Bitcoin?
The answer is decreasing the price, if people are losing jobs and companies are closing people will start to sell their stocks/ btcs to hold more cash for the daily life.
Also we need to remember all that in the last DROP we had a GAP that will be filled in the next weeks probably.