[ad_1]
Market forecasts are not a clear science; are largely conjectures supported by technical indicators that allow you to take a snapshot of current conditions to try a forecast of future ones. What is clear at the moment is that the encryption markets appear to be on the bottom while the stock markets are heading south.
Tom Crypto bull Tom Lee took the hot spot on CNBC's "fast money", where he said the stock market selloff is a "mid-market crisis" and that the earnings season will be bad;
Wall Street bull @Fundstrat"Tom Lee says the sell-off is a mid-market crisis for the markets. The earnings season is expected to be ugly. pic.twitter.com/t5Lb9qowkz
– CNBC Fast Money (@CNBCFastMoney) January 3, 2019
Lee who predicted a ten percent year-end rally added;
"This year may not be so good, we were hoping for a rally towards the end of the year … it did not happen."
Lee blames the Fed for weakening the markets and causing the selloff when he raised interest rates. This could have had a greater effect on Trump's tariffs and trade embargoes.
"If financial conditions are tightened, people are forced to liquidate positions, forcing shrinkage." See the chaotic moves through the markets, it's harmful because it takes a lot of time to settle, "he added.
Apple took the weight of the fall as its stock fell more than 10% in the last two days. Fears of a slowdown in Chinese sales and Trump's "war on trade" have catalyzed the poor performance of Apple's CEO, Tim Cook.
A brighter outlook for crypto markets in 2019
On the other hand, the encrypted markets, which were absolutely bad in 2018, are ready to make a recovery this year, at least according to a number of analysts. Bloomberg cited the GTI Vera Convergence Divergence indicator that was previously used to predict a rally in Bitcoin prices.
According to this new technical indicator, in addition to Bloomberg's Galaxy Crypto Index, Bitcoin is currently in a "series of purchases" that have not been seen for several months. He went on to say that if the pressure of purchase continues as in the last 13 days, further gains are expected.
Mati Greenspan of eToro added: "if we proceed with technical analysis, we can easily see on the chart that we are much closer to the bottom than we are at the top", a sentiment echoed by the co-founder of Ethereum Joseph Lubin who defined the fund the last month tweeting; "I am calling the criptobottom of 2018. This fund is marked by an epic amount of fear, uncertainty and doubt on the part of our friends in the seals of the 4th and the crypto-fifth."
If you want to believe these feelings, the cryptographic markets could have a much better year than the previous one, while the stock markets seem to go in the opposite direction and could accelerate the decline if a certain president has his way.
[ad_2]
Source link
