I didn't expect such a drastic market recovery two days in a row, but I won't shake my head at it...
It was a pleasant surprise to see both the cryptocurrency market, particularly in altcoins which shot up a great deal in price after a spike in Bitcoin to $7,461 last night at 7:30pm. The price is holding relatively well at $7,400 currently, though it just became more of a sellers market again. The fact the price has stayed stable this long indicates to me that a lot of people have cashed out that were trying to cover their losses or make a small profit. As a HODL'er, this is my favorite part of watching the markets.
This bumped up to $7,426 a moment after the snapshot. It's very possible a spike could break the earlier one as it did yesterday before we see a flux of cashouts, I don't think people know whether to cash out or not now and it is rather amusing from a HODL perspective.
Altcoins seem to be staying strong; some have larger gains than BTC itself currently; glad I just invested in Tezos!
Stellar is doing stellar, and BAT is making me proud. Tezos, well, I'm intrigued.
Stocks are up as well, they are not making as drastic of a recovery as cryptocurrencies in the last 48 hours but they are all in an upward trend.
I can't help but look at this and think "Is this the calm before the storm?"
Two days of relatively unstopped progress in cryptocurrencies, no doubt led by Bitcoin has me wishing I'd put more money into crypto than stocks, but that is irrelevant in the long game. HODL'er's reminder to check that kind of negative thinking; the market is always up and down, don't be wavered by minute, hourly, and daily movements.
My hope, of course, is that the markets continue this trend of spiking up, dropping down a little, and repeating this process until it reaches a new height.
I am beginning to recover from unconfirmed COVID-19 and come to the end of my 14 days in isolation. I will likely be forced into further isolation as my family is still sick, which...honestly doesn't bother me too much. I'm angry with America's unpreparedness on the subject of pandemics...
The greatest message I saw from a journalist who was infected stated to the public on webcam yesterday that "It is bad, but you will get through it."
I couldn't agree more.
-Thomas Wolf
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