Warning: Steem witnesses executed a hard fork on 2020-05-20, seizing 23.6M STEEM from 65 accounts. The funds were transferred to an account named @community321, the ownership (and intentions) of which have not been revealed. The witnesses claim to have been targeting accounts which defended against a hostile takeover in early March, but at least 2 accounts on the list have been inactive for over 4 years.

Coverage:
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Hope you bought the dip! by jrcornel

View this thread on steempeak.com
· @jrcornel ·
$6.11
Hope you bought the dip!
# It's a risk-on day across the board...

Hope you bought the coronavirus dip!

Stocks are up, bitcoin is up, oil is up, just about everything is up today.

Check out the Dow:

https://i.postimg.cc/P5W6xZzv/Capture.png

(Source: https://finance.yahoo.com/quote/%5EDJI?p=^DJI)

The impact of the coronavirus is real and will last for a while longer still, that was never up for debate.

But, financial markets tend to bottom at peak fear and peak fear often hits well before the actual crisis starts to resolve itself.

# Which means...

Financial markets and risky assets were likely to make lows long before the economy actually starts to recover.

In fact, it's possible we have already seen the lows.

I would bet we saw the lows in bitcoin for sure, and possibly in stocks as well.

Stay informed my friends.

-Doc
๐Ÿ‘  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 50 others
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vote details (114)
@cryptictruth ·
If they pass any real bill today or tomorrow it will surely rip. I am still worried as earnings will be hurt. I think thereโ€™s still troubled water ahead.
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@jrcornel ·
Sure, but the market bottoms long before the all clear signals are given.
๐Ÿ‘  ,
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@cryptictruth ·
Iโ€™ve been averaging down so long term I should be good.
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@peacefulpatriot ·
Sure did! Rode disney on this run. Up today!
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@mtl1979 ·
My own company is up by 6614.0% since two weeks ago... Not really time to buy... lol...
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@denmarkguy ·
IF the stimulus package passes, and IF it includes $1,200 per person, I find myself wondering/speculating on whether those who are (a) crypto-savvy and (b) basically *"financially OK"* will see this as a windfall to invest in cryptos...
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@jrcornel ·
They will. And they will buy stocks as well. Which is part of the reason both are already going up.
๐Ÿ‘  
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@lucylin ·
_In fact, it's possible we have already seen the lows_.

Short term, maybe. (with all the stimulus from the fed)
The lows are far from seen...
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