Today marks what may be remembered as the most significant economic event in history. The central banks have nearly exhausted the tools at their disposal, only to be met with pessimism by investors who continued their sell off in the closing hours of Monday, seemingly spurred on by Corona-Virus fears. The bond & future markets have continued to signal possible disaster over the horizon, 10-Yr U.S. treasury notes continue to float around 0.8% (a significant drop could perhaps implode the international debt pyramid & drag currencies along with them). As citizens continue to be pushed out of the workforce due to the virus & rushing the healthcare system, the economy & banks are feeling continued constriction...will we see millions unable to service their debts in the coming months & what repercussion will this have upon the banks?
Bitcoin & the wider crypto-currency industry seemed unaffected by yesterdays sell-off, seemingly bottomed out. With the halving on approach, coins may actually be poised for a strong upwards movement. When Bitcoin fundamentals force miners to reduce their sell pressure by half, economic law dictates that this will necessarily drive prices upwards in a correlated fashion. Bitcoin may emerge from the ashes of Corona-virus as a hedge against the polluted world economy, given the right circumstances.
Monday Closes
S&P 500 -11.98%
Dow -12.93%
NYSE -11.84%
Vix - Volatility indicator reached +40% levels during the day.
An important day for both the economy & crypto, most signs point toward the negative.
Will the world burn? Will crypto enthusiasts all get rich?
The bell begins to ring....