Analyst Stockton: This crisis could deepen, declines could continue
While Japan's interest rate hike and the danger of recession in the USA put the world markets in a panic, Katie Stockton, the founder of technical analysis research firm Fairlead Strategies, stated that the crisis could deepen even more.
While it is questioned whether the panic atmosphere seen in the world markets will deepen, Katie Stockton, the founder of Fairlead Strategies company, known for his detailed market analysis, stated that the crisis could get harder.
'At the moment, selling is unreasonable but...'
Speaking to CNBC from the US media, Stockton said that the selling decision was not very correct at a time when the fear index was so high, but after an upward correction, it could be made for 'buying at a cheap price from below...':
“While the fear index has risen so high, selling the investments you have is generally not the right decision. If a sale is to be made, it would be better if it was made after an upward correction move.
('But you still recommend sales, do you?' On the question...) We think that the decline can deepen even more. Therefore, either an opportunity for a recovery sale can be seen or it can be expected to make purchases at a lower price from below. In fact, we were waiting for this crisis, but we expected it to be later. It was a little early. As I said, at least, even if there will be no sale, it can be expected for new purchases”
On the other hand, the Japanese stock market, which was stated to be the beginning of yesterday's crisis, closed today with a rise of more than 10% and almost completely erased yesterday's losses.
In the minutes of the news, Bitcoin is trading around $55,600.
