Did someone say „tariffs“ again?! Black Monday FUD burdens Bitcoin

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(Edited)

Black Monday FUD un Sunday

It‘s Sunday afternoon and it seems as if we won‘t get at least a technical relieve rally tomorrow. Bitcoin, as a 24/7 asset indicates, with its drop below the 80k mark, that investors begin to fear a black monday stenario as we saw it about 40 years ago in 1987.

On Monday, October 19, 1987, the S&P 500 experienced a dramatic collapse, dropping by 20.5%. The crash was driven by a combination of factors such as overvaluation of stocks, panic selling, and the influence of computerized trading algorithms, which exacerbated the sell-off.

Could that happen tomorrow? Well it could. Is it likely? Well I think rather not. And the good news, looking back to 1987 is: Despite the sharp decline, the S&P 500, like other indices, began recovering relatively quickly, and the crash did not lead to a prolonged economic recession. That’s obviously a fear that is growing. But nobody knows and we will habe to wait and see at the end of the day.

Bitcoin

Concerning Bitcoin it is crucial we stay above that big support zone of 70-74k. Otherwise it gets more likely that the bull market is over already and that we have seen the cycle high back in January when 1 BTC cost 109k USD. I doubt that but it is bot impossible. At the moment we are trading at 79k…

What do you expect tomorrow and next week in general?

hive-167922 bitcoin meme ecency hive
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8 comments
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This time the SP500 won't fall 20% in one day. The index will fall more slowly and Bitcoin won't fall below 30k too fast.

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Heftig, bin gespannt, wie's mit den Zöllen weitergeht, kann mir nicht vorstellen, dass das die USA durchzieht, auch in den USA formiert sich bereits Widerstand, Kalifornien möchte gar nicht mitmachen, es sind auch schon Verhandlungen mit 50 Staaten angekündigt, durchaus möglich, dass der Großteil wieder abgeschafft wird, bzw. dann über die Länder importiert wird, die keine bzw die geringsten Zölle haben. Ist glaube ich in einer globalen Welt mit globalen Lieferketten überhaupt nicht mehr umsetzbar und zeitgemäß so hohe Zölle einzuführen, die aber nicht hoch genug sind um die Produktion in die USA zu verlegen, da die Produktion in den USA immer noch viel teurer ist als den Zoll zu bezahlen. Ist wenig durchdacht meiner Meinung nach.

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and it's now at $77950 and if this doesn't stop anytime soon it's gonna turn really scary! i hope for the best!. have a good day!

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I was on this trade on my Binance futures
I predicted it to go up but I was wrong…

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