The past seven trading days have been absolutely historic. Never in our lifetimes, or the lifetimes of our parents, has anything like this happened before. It’s honestly incredible.
Yes, there are reasons the markets should rally, and perhaps do so immediately. But……….and this is a big but………..in my opinion (which has been pretty damned priceless lately), if for some reason Ethereum breaks $1,000 or Bitcoin breaks $20,000, I think you’re going to see a total washout across the asset spectrum.
Why? For the same reasons I’ve been citing all year: ANIMAL SPIRITS. Some of you didn’t believe me before, but just like I predicted, the moment ETH broke $1705, all hell broke loose across the entire financial world.
You want a meaningful recovery? Easy. Have ETH climb its way back to $1700. I absolutely guarantee stocks will go right along for the ride.
But break $1,000? My whining about not being shorter will be worse than ever.