Bitcoin and SPX Correlation - Gravity About To Act
Never in the history of SPX has there been a rally right before US elections. This is going to be the ugliest US elections in history.
No sane investor will keep100% of their stocks portfolio. They will dump at least 50% of their stocks holdings.
No financial stimulus from Feds in sight before US elections.
US elections 6 weeks away from today, i.e. 3rd November 2020.
EU is already suffering from second wave of COVID-19.
UK is about to go into a second mini lockdown from tomorrow, i.e. Tuesday 22nd September 2020.
Think before you act. Make decisions you do not regret.
I am not advocating shorting here. I have seen this market being manipulated in the worst possible way. Market makers, i.e. derivative exchanges, control the price of BTC. Most of the BTC supply has been bought and taken off exchanges already so that no one, NO ONE, can control the price of BTC apart from these exchanges.
My advice would be for you to always keep an eye on the longs vs shorts ratio at multiple time frames.
Best time to buy will be before US election day. I expect a bounce upwards from that time. Until then, stick with extreme drop buys only.
I wish everyone all the best. Stay safe!
This is not FUD. This is going to be the ugliest election in the history of USA where two old men are fighting each other. How it impacts the stocks market remains to be seen.