BEST DAY IN 16 YEARS! #Finance

how’s it going everyone it’s Sam we just got word of the biggest day in 16 years there’s some crazy numbers coming in from overseas that I want to show you also we’re going to go through why Bitcoin might be falling right now as you can see falling down to 64,000 if

you don’t mind hit subscribe turn on the Bell notification underneath the CashNews.co so you can see future CashNews.cos just like this also there’s going to be a link to Marx underneath the CashNews.co this is the time to be trading I’ve been saying this this is the time to put

in your long positions before we inevitably break out to new all-time highs I will apologize the dog’s barking upstairs but we have some stuff being delivered and the the content is what’s really important here so if you don’t mind we’ll get past that little incessant

barking but let’s start with this obviously we are falling down on bitcoin uh the price is down at 64,000 from 664 just a few days ago keep in mind almost all of this was just over the last 24 hours when we have seen a drop of about $1500 all the way down we did go down to about uh $2400 down

over the last day now keep in mind we haven’t had much volume over the weekend we didn’t have ETFs buying we could see some people taking Profits or some whals

trying to manipulate uh a variable Cornucopia of reasons but keep in mind we are bouncing off this one this 200 day moving average and if we continue moving up I think this will still be bullish right we still moved to a higher high right even if we continued going down and we set a higher low it

would still be bullish on a uh technical level so I would not be too worried about this obviously we saw a ton of inflows last week 1.1 billion so that can change the market quite quickly as you can see too we have had days where it’s been red we’ve had a couple red days and then we

continued moving up uh before so I would not be too worried about this of course you have to be ready with some cash on the sidelines if you are trading or if you want a dollar cost average but not the worst idea in the world to dollar cost average and when the market looks this bullish and we

actually did have the best day in in 16 years on a Stock Exchange here uh today but again there’s that link to Marx underneath the CashNews.co you can trade with all different forms of collateral but let’s move on we do have Al two or total two uh moving down on the day

as well this is the entire Crypto market cap minus Bitcoin as you can see it did put in a higher low recently a higher high but we did get like kind of rejected by this uh previous line we got

a little bit higher you can see but uh not a clean breakout above this trend line either I know this trend line isn’t perfect but you can see just generally a downtrend lower highs lower high lower high High uh so hopefully we continue to break out this week we do have some economic data

coming later today we have Jerome Powell speaking and then we have some more jobs numbers like job openings uh ADP employment initial jobless claims non-farm payroll Etc unemployment rate uh that’s all coming later this week we start to see distributions coming with FTX Distributing money to

Creditors hopefully some of that flows back into Crypto and into the Bitcoin Market as well I think that would be quite bullish obviously for the price of Bitcoin as well

since they have 16 billion dollar to distribute okay this is what hit a new 16-year high today well they had the best day in 16 years I should say Chinese stocks score the best day that they’ve had in 16 years you can see a massive move up on the CSI China 300 index from 3800 all the way up

to 4,000 and if we look at a different uh Stock Market indic there the Shanghai Composite Index up 8% on the day that’s a huge huge day that is big um moving up from 3150 to 3350 obviously uh there’s a little bit of volatility but you can see just a pretty steady climb

up now why is that well we talked about last week they have a lot of stimulus they even have uh some announcements that they’re researching like a stock um stabilization fund as well where they’re basically just going to pay companies to go buy pack their own Shares it

sounds like so that is a big day and that’s after a couple green days before it you can see the Stock Market is up about 33% in what eight trading days that is crazy crazy crazy volatility crazy gain um this is after it hit a very low point on the last 52 week let’s

actually look here you can see hit new lows there that was after uh hitting new lows around February is but then just massive rally up now it’s up on the year so you can see what stimulus does to a Stock Market now this is kind of A Tale of Two Cities if you look at Japan the

niay index is down 4.8% over the last 6 months down 5% year to dat it’s up 14 but you can just see it’s having a rough time here today compared to Japan uh compared to China where they’re stimulating so I don’t know maybe some countries will be watching this and saying hey

you know these are two countries that are taking a bit of a different stance obviously Japan raised by a quarter point so they’re making things tighter China is stimulating making things looser and you can see how it’s reflected in the confidence of the Stock Market and

uh you can see how it’s affecting the Stock Market just in general so yeah I think we are I think we’re in store for uh some more stimulus in the future I think there’s going to be more quantitive easing right now there’s not a ton of news uh on bitcoin not

a lot of uh companies announcing anything not a lot of ETFs but it is just a bit of a slower Monday I think with people coming back to work and keep in mind too this is the last day of the

quarter so there might be more news in the next few days as companies you know unveil stuff for the next month for the next quarter Etc we also have some big Accounting changes coming as well in the fourth quarter which will allow companies to label Bitcoin or um record Bitcoin not

as an intangible asset but they’ll actually be able to mark it up so how it’s how it works right now is if you buy $1,000 worth a Bitcoin and then it falls down 30% then goes 60% you have to just show that loss so you’d have $700 of Bitcoin and then when it goes up you can’t

even show that as a gain either which is kind of frustrating for a lot of companies uh including companies like micro strategy and it stops some companies from wanting to show that because it just would look bad on uh their quarter lead reporting right and a lot of explanations all the time so that

does change in this next quarter which will be really exciting let me know your thoughts on all this underneath the CashNews.co of course you know a little volatility might scare some people but uh obviously we’re in this for the long term I did post a poll recently just showing when people

were considering selling some Bitcoin I said if Bitcoin goes to 150,000 in the next year will you sell nothing sell 20% or less 20 to 50 50 to 90 or 90% or more the majority of people said sell nothing then it’s pretty even here between 20 like just selling anything between 20% less 20 to 50%

and 50 to9 90 and then a lot of people saying that they’d sell pretty much everything or everything as well so kind of interesting the pull results there thank you so much I appreciate it again if you want to trade Bitcoin if you want to trade

style="font-weight: bold; color: #1a73e8; text-decoration: none;">Crypto there’s that link to Marx I’ll see you all in the next CashNews.co bye