Sirwin
Sirwin

Markets are crashing, should we take the plunge?

By Pyratellama | THe_LoOny_LLamA | 12 Mar 2020


The Coronavirus has ravaged our economic outlook and forecast. The DOW futures fell 1000 points after Trumps address to the nation tonight. DJIA is down over 20% AND officially in a bear market. Many are saying Bitcoin is in a bear market.351665157-561a5425bc34d1d579a8258c8609425e32d37bcb6820ac239cc9734370eeac15.png

We are taking a dive whether we like it or not. Bitcoin is currently bouncing off the 4 year support line. It has breached support, but not by much. It looks like it might be holding. The DOW on the other hand will free fall, and I have no idea where it stops. The question is, should we take a plunge into opportunity by buying stocks or crypto?

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I say yes, we should buy. I am already buying more crypto. I've been buying since it hit 4k last year. I've done very well for myself. I will continue buying even if Bitcoin and the crypto market goes down to 4k. I don't see it going below 6.5k if it breaches the current support. I didn't think it had a chance of breaking this support, but with the stock market crashing all bets are off. Bitcoin could easily break all support and drop. I'm hoping it doesn't, but if it does I'm buying more. I recommend buying stocks in companies that are fundamentally sound and not in debt. This is a time when companies and banks that have big debt won't be able to stay afloat and some will sink.

My hope is that this is only a 2 or 3 month setback. If that's the case then the markets will come back at a blistering pace. I'm on the fence at the moment. Crypto in the long term is a great investment. The DOW in the long term is a great investment. Just be careful with your poop coins and your speculative companies.

Are you buying? Let me know in the comments.

That is all, thanks for reading. Goodnight and good luck.

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Pyratellama
Pyratellama

Audio engineer, studio owner


THe_LoOny_LLamA
THe_LoOny_LLamA

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