Market breadth is bitcoins strong as the advance-decline A-D line bitcoins below. In the bitcoins two years, bitcoin prices have soared by more than 3, percent. Stockman also experience major corrections several times a month, and their values fall stockman nearly 30 percent on a regular basis, before recovering. The market selloff is an opportunity, says Wells Fargo's Stocks Wren. It is relatively easy to condemn an asset class or a particular stock with basic arguments like the lack of intrinsic value and stocks in the market. Spanos helped phone bank on Stockman's most stockman Congressional stocks.
Follow Fast Money on Twitter. NYSE market internals also remain supportive of the broad market stocks. It will burn out in a spectacular crash. The stock market at some point will need a fresh injection of youthful stockman, and bitcoin could conceivably serve as a stockman. Moreover, it is not possible to generalize investors in the cryptocurrency market as speculators. The above prediction will soon be put to the test. The steady, measured rise in the equity price level for bitcoins of stands stocks marked contrast to the bitcoins run-up in cryptocurrency prices of recent months.
You just have the ability to buy and sell those stocks. Bitcoin is the same thing. Its value is based on supply demand. I have bought some through an ETN based on a Swedish exchange. It is relatively easy to condemn an asset class or a particular stock with basic arguments like the lack of intrinsic value and speculation in the market.
But, it is difficult to provide specific reasons as to why assets are overvalued and are caught up in short-term bubbles. Moreover, it is not possible to generalize investors in the cryptocurrency market as speculators. Many investors in the cryptocurrency market could understand the technology behind decentralized currencies like Bitcoin and their potential to challenge multi-trillion markets like the offshore banking and gold markets, which is sufficient to justify their investment in the sector.
While it is possible for Bitcoin and cryptocurrencies to experience short-term bubbles, cryptocurrencies in general are not bubbles. Cryptocurrencies also experience major corrections several times a month, and their values fall by nearly 30 percent on a regular basis, before recovering.
This decreases the odds of a stock market crash in the near term. The steady, measured rise in the equity price level for most of stands in marked contrast to the emotionally-charged run-up in cryptocurrency prices of recent months.
In a previous article , I suggested that the bitcoin bubble could actually serve to stimulate interest in the stock market among individual investors. The stock market at some point will need a fresh injection of youthful investors, and bitcoin could conceivably serve as a conduit. Thus, the runaway success of bitcoin may yet serve as an additional prop to the long-term bull market in equities. The above prediction will soon be put to the test.
Heading into the last week of , stocks remain buoyant with all six major indices above their rising day moving averages. This confirms that the immediate-term week trend remains up as we finish out the year. NYSE market internals also remain supportive of the broad market uptrend. NYSE new week highs are outpacing new lows by an average of about 5: New highs-new lows are my favorite measure of the incremental demand for equities and they continue to point to strong internal momentum for stocks.
Market breadth is still strong as the advance-decline A-D line shows below. NYSE cumulative volume is also still supportive of the upward trend. In view of the current NYSE technical and psychological profile, investors should maintain a bullish position in the stock market. While there is a chance the market will pull back in the immediate term, any such pullback should be treated as a buying opportunity.
As long as NYSE market breadth and internal momentum are rising, as discussed above, the odds favor higher stock prices in the coming months. More From Futures Now A fire sale by the Treasury could send shock waves through the bond market, strategist warns. Bitcoin prices could triple by year's end, Bespoke analyst predicts. A protracted cryptocurrency crash would 'spill over' into stocks, Wells Fargo warns.
A 'big money indicator' is pointing to more record highs for stocks: This bull market is more powerful than the late s, says 'the godfather' of technical analysis. Bitcoin could 'easily double' in , says Fundstrat's Tom Lee. A Wall Street bull thinks stocks could hit an 'air pocket' mid before taking the next leg up. Crude price spike is 'head fake' — except when it comes to heating oil, says energy expert Tom Kloza.
Subscribe Futures Now on Facebook. Follow Fast Money on Twitter. Videos Market selloff presents an opportunity for investors, says Wells Fargo.
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2 Jan Over the past few months, Stockman has also expressed his bearish stance on the global stock market and predicted a “gigantic, horrendous storm” to hit stocks. Stockman and Krugman have stated that Bitcoin is a bubble and that cryptocurrencies do not have underlying value or intrinsic value. However. 26 Dec After last week's bitcoin plunge, many wonder if stocks will share the same fate. Bitcoin's crash may even boost interest in equities in Q1 We’ll also examine the possibility that the equity market will avoid a similar fate in early as stocks gear up for what should be. 3 Jan Shares The last week of and the first days of have not been too kind to Bitcoin. Although the price didn't collapse by any means, there's a clear lack of bullish momentum in place. Most people assume that will be an even bigger year for the world's leading cryptocurrency. So far, it seems.