Last week’s steep sell-off in equities, commodities, and sectors of the bond market was extreme and historic.
This week will bring several of the first economic reports that reflect the impact of the coronavirus on production, trade, and manufacturing. They will be the first in a series of reports that indicate that we are likely in a global recession that will be amplified by massive job losses and business closures.
As the EU has internal problems with coronavirus and there is a lack of revenues, agriculture has no workers due to lockdown, keep your eyes on a strong breakdown for your sell with EUR/USD.
Bitcoin, already down near 40% off its 2019 highs as traders load up on short positions, risks plunging even further after breaking through a key technical level this week of $6000 per coin. Where do you think Bitcoin will be next?
Further fuel to the fire for Bitcoin to turn bullish… Why?
South Korea reportedly legitimizes crypto as a legal entity.
What makes this news so important? Only the fact that South Korea is the 3rd largest crypto exchange market by volume! With the Crypto Ban lifted in India, this may prove a huge boost in Bitcoin. Nowadays even properties can be bought with Bitcoin. Watch it grow!