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Evergrande vs Bitcoin, Round 2Latest update on the Evergrande fiasco. It's looking like this could be much bigger than even the alarmists have been speculating so far. tl;dr - the US media is very poor at covering foreign news, especially when it comes to money. Be wary of what you read out there. China is likely to let Evergrande defaut, which will stand in stark contrast to what we did over here. Expect this issue to get political, especially from the Democratic side since people like Pelosi have made their fortunes in real-estate as well. This could potentially be a very good thing for #crypto because it will shake people's confidence in traditional assets while also providing more liquidity. If they're going to sell or not purchase a home anymore, where is it going to go? Interest rates are pathetic right now and crypto is the only thing getting people decent returns as we speak. The Federal Reserve is maybe-sorta-kind-of-thinking about doing the right thing (which is to increase interest rates) but their response is likely going to be too little too late. I think we should probably assume that the correction is going to run its course and adapt accordingly. More to come with this stuff but it's one of the few things worth paying attention to in finance right now.
BITSTAMP:BTCUSDLong
by RyanTanaka
$ETHUSDT UPDATE!!Hi Traders, So just building on the update that we made on our YouTube Channel earlier on today. Prices are following a very similar pattern to $BTC, After prices made the impulse leg up from last night they corrected to the 0.382 FIB to then make a push higher and test the previous high. They then came back down to he the MA's and 0.382 FIB for the 2nd time to where it takes us now where prices are making a push higher and potentially breaking the previous top. If prices manage to break out refer to the zones above as next resistance however if they fail expect a potential bullish triangle form, building up liquidity within to then give us the breakout and test of the trend line above. Thanks MS
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by Market-Snipers
Evergrande and the San Francisco Real-Estate Crash (ft. #Crypto)So while we wait for the #Evergrande thing to sort itself out, the city to pay attention to for cracks in the housing market here in the US is #SanFrancisco. They have had the highest housing inflation in the country over the last decade -- which is counteracted by the reality that both jobs and people are leaving the city in droves now due to its unaffordability, high taxes, and lower quality of living. So the part we should be concerned about is the fact that cash purchases of real-estate (the metric used to estimate foreign investment) has been on the rise for a while now, and COVID has more likely than not accelerated those trends. Of the possible 30-40% of homes bought with cash in SF, we know that at least with foreign properties, more than 70% of them are from China. We don't have the exact numbers yet but I think it's safe to say that it's probably enough to have an impact. While everyday Americans struggle to make ends meet, why does the market keep on going up, at least on paper? The reality is that US markets are being propped up by foreign speculators right now, rather than anything we did on our end. Foreign investors know that Americans are homeownership obsessed and will basically do anything to keep their home values up, no matter what the cost. (Homelessness, crime, rising rents, etc.) They don't live with the consequences since most aren't even here -- all they really care about is getting a return. Both the NIMBYs and politicians in the US have sold out the American people to see their home values rise for a few % points -- foreign investors are basically trying to #buythedip of our dysfunction and laughing all the way to the bank, really. Is the sky going to fall? No. But when you see people freak out over changes in 5-10% even in assets like #crypto, a change like that can actually be panic-inducing in traditional markets. Imagine that your investment that has gone up steadily every year for 50 years, now going down. If you're a renter or a prospective homebuyer, this may be the moment you've been waiting for, though. Something worth keeping tabs on, either way.
HKEX:3333Long
by RyanTanaka
ETH.USDT (Y21.P6.Video1).Planning aheadHi All, As per my commentary, I do see ETH coming down more as its done very well high and hence buying interest will want to see it pullback. Its also likely that other coins will take interest away from ETH especially when BTC gets going, as it might be the case BTC dominance goes up to 50% or so. I think ETH is doing what KAVA has done already, slightly ahead of it. Refer to the kava link below. Eth will have its moment, and we just need to time it well from BTC to ETH or ALTs to ETH, like it happened before. Please give me a like and\or comments + a donation will be good. Come and join my c.h.a.n.n.e.l as well. All the best, S.SAri
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by ssari