What is going on today?

ew-and-patterns (70) 6 years ago (edited)

The uptrend on wallstreet is basically broken overnight with a huge downgap. If it does not recover quickly (does not look like that) we are in for at least two years of bear market. They will try to save it by buying up DOW shares for lets say 300P only to see it drop again for 600P every time. It is really looking bad this time.

I have a count that could be in play now for the DOW to reach 18k again in 2020.

$1.15

3 votes

themanwithnoname (64) 6 years ago

A number of stocks are getting hammered on Wall Street. Amazon, for one is down $135 today including after hours trading. This is after reaching highs of over $2,000 just in the last month.

Much credit for the drop in stocks is because of the raise in interest rates. This is supposed to make the (supposedly more stable) bonds more attractive as investments which pulls money out of stocks. Short terms rates have been very close to the long term rates. When those invert, it's normally a signal for a recession.

Tether is supposedly printing another 200 million in USDT. Can't help but think that with the other (potentially more reputable) stable coins being introduced that Tether is trying to cash in while they can. As far as I know, no audit has yet been conducted. Just my opinion, but USDT still seems like an unwise investment.

A number of people are writing posts encouraging people to head over to Coinbase and vote for Steem to be listed on the exchange. Some people are reporting that they don't have the ability to vote as CB isn't giving them the option.

"And that's your news for the day! I'm your host, @themanwithnoname. Join us again tomorrow for another update on the happenings of the world. Until then, stay safe out there!" :)

$0.74

steem-bounty (72) 5 years ago

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$0.60

mightypanda (64) 6 years ago (edited)

Wall street - feds increased the rates which is most likely the cause of crash, it could also be because Nikki Haley suddenly resigned without any warning.

Tether and Bitfinex - There are rumors of bitfinex's insolvency and that is likely the reason someone moved 100 million tether from their wallets. They are also seeing major bitcoin selloff.

Crypto - was in a tightening equilibrium and was bound to break up or down today. Unfortunately, to broke downwards. Bitfinex selloff may have contributed to that. Most other news that I heard were just noise.

Hope this helps.

$0.46

https://cryptovest.com/news/tether-usdt-exits-bitfinex-wallet/

diogosantos (62) 6 years ago

Why the stock market went down so much

https://eu.usatoday.com/story/money/2018/10/10/why-stock-market-went-down-so-much/1593803002/
FUD is/was everywhere and today was a red day in the stockmarkets, once again we can see a small correlation between crypto and stock markets.

Interest rates are rising, because of the good situation lived in the US and that´s a problem. "Higher interest rates means bonds pay out bigger streams of interest to investors, which makes fixed-income investments a legitimate alternative to stocks."

Relation between tether and bitfinex problems?!?!

Rumors about bitfinex insolvency!
Much of the rumor has surfaced because of the broker's link with Noble Bank International, which also provides services to Tether Limited, which is the company responsible for issuing USD Tether.
More than 110 million USDT exited Bitfinex overnight.
"The continued emptying of the Bitfinex Bitcoin wallet that is also happening at a faster pace is pointing to a reaction on fears of the exchange’s stability."

Crytpo recent move

We just went down a little bit, almost touching our support line, but as always it holds strong and we are bouncing right back up. What happened was a failure trying to go above the resistance line...
Basically it decided that it won't go up for now, maybe latter!

$0.36

jasonbu (61) 6 years ago

Aside from the crypto dump and the stock market slide there is also the hurricane that slammed into the Florida pan handle; Russian astronauts safely back to earth after rocket problems; son of the limo company owner, in that horrific crash in NY is arrested; cannabis becomes legal in Canada next week (Cannibis company stocks are taking off);Trump administration is presseing Saudis for information on the missing journalist...

That's pretty well it... Hope that helps.

Posted using Partiko Android

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frdem3dot0 (58) 6 years ago

The world is ending :)

Honestly, I have no clue

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knircky (73) 6 years ago

Hey man is there a way to get in touch with you? U can contact me on @twitter "knircky" or FB "Philipp Knirck" i'd love to connect.

$0.17

frdem3dot0 (58) 6 years ago

Hi,

I have not used facebook since a few years and am not on twitter. But I could simply make a twitter account or use steems encrypted memos.

I am very busy the next days, but am very happy to talk later.

$0.00

knircky (73) 6 years ago

i am knircky on telegram.

$0.00

elleok (63) 6 years ago (edited)

Can't say much about the first two but Bitcoin moved under $6300 which was a selloff point of many investors and the altcoin as always followed this trend and like it is pretty much every time a bigger selloff is happening people start to panic and selling too. Checking there is a huge Bitcoin support at $5800 but thinking back what already happened this year I really think their is literally no way to predict what will happen in the nearer future to be honest.

All in all this is still the correction of the massive overvalued prices we saw at the end of last year and start of this year.

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