Ulog 003: Market dropping
Today was a sad day for financial markets. The SPX dropped like 10% while crypto suffered from a considerable loss, especially for top altcoins, such as Ethereum (nearly 15% dropped). For margin traders, today was a hell of a day, as I have observed over 400 billion wiped out of the margin trading.
As SPX is dropping, a recession is expected to come For financial market traders; it was not a good sign to stay in Long position. As more recession to happen, I would wait to open a short post.
Steem and the future
After reading several analyses on Steem, I'm still in a bullish view on Steem, and I expect that we might see a reversal with huge rise soon.
Today was not a smooth day for me, but I have decided to leave margin trading on Huobi and opt to another platform with more tools for margin. I believe that specific devices, it's safer to trade in a decent exchange with stop-loss.
Bad news :(
But I hope this improve. Saludos desde Venezuela.
Just a consolidation period. But this time, it happened for many financial markets, such as Forex, Stock and even Crypto