News of rising coronavirus cases in the UK caused major static in Monday futures, but I expect this shock to quickly subside. I was wondering why the crypto market was tanking for no reason, then I remembered I saw this on the news earlier today. The-UK-shutting-its-borders news won the day, but I believe stimulus will win the war.
Futures tanked because the UK headline was the latest, so it drew first blood. Crypto still has not truly decoupled from the traditional stonk market, as much as your favorite shill wants to say it has.
I don't expect the stimulus news to bring markets up for a few days or maybe even weeks. The market was technically set for a pullback, and this news was the perfect catalyst to make it happen. Nobody really gives a crap about the UK — it's just the market needed some catalyst to set off the correction.
Will the mutant strain of COVID-19 delay the superbull market your favorite shill says 2021 is supposed to bring us? I don't think so. I think it's bullish, actually. The new strain solidifies that we have the same market conditions as what started the bull run in the first place. Basically, we're right back to March. We have a brand new COVID and a brand new stimulus.
I'm making sure that my stablecoins are in place to buy up dips. I never feel good to see my numbers go down, but I remind myself that it's just a part of the game. As long as I have some powder on the side to make sure I can buy stuff at a low price, then I'm happy. There are new retail investors who are going to hear about bitcoin as COVID keeps them inside for a few more months. They'll have plenty of free money from the government and nothing to do except gamble in the markets. Congratulations to everyone who is properly set up to profit from this environment.
BUT.
The market likes to be a dramatic little baby. So expect a headline and headache-inducing dump on Monday.