Please note that the decline may not stop on Monday!!!
Don't rush to buy at low levels!!!
Why do I say this? Because the current situation is very similar to the eve of the global crash on August 5. The reasons are as follows: 👇🏻
1. Both the poor manufacturing and non-agricultural data triggered the decline of the stock market on Friday. On Friday, August 2, the Nasdaq fell by 2.43%; and the decline was even greater last Friday, falling by 2.55%.
2. Both saw a sharp drop in the Japanese stock market. Last week, the Nikkei 225 index fell by 5.84%. The reason for the decline in the Japanese stock market this time is the same as the last time. The appreciation of the yen led to the closing of yen arbitrage positions and the departure of leveraged arbitrageurs. That is to say, after a whole month, the market has not yet emerged from the crisis.
3. Both triggered turbulence in market sentiment. The market sentiment may be trampled in panic, so US stocks, emerging markets, crude oil, gold, US bonds, and cryptocurrencies all fell.
Therefore, if the U.S. stock market plummets on Monday, the cryptocurrency market is likely to touch 49,000.
I hope my feeling is wrong, take care of yourself.
