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finance
S&P 500 down 1.89% for the day on Friday, Bitcoin down 4.2% for the day, down 19% for the week
submitted 2 years ago by magnora7 from self.finance
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[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 0 fun2 insightful - 1 fun - 2 years ago (2 children)
Select 1y or 5y or max on this graph:
https://www.google.com/search?client=firefox-b-max&q=dow+graph
My point is that the long-term view is helpful in this case. The market is overvalued partially because of the foolish reduction of regulations several years ago.
And you posted your comment 3 hours ago, after the market rebounded today.
Thus the only currency that took a serious hit is crypto, and it remains down: https://coinmarketcap.com/
Select YTD or 1y, here:
https://coinmarketcap.com/currencies/bitcoin/
[–]magnora7[S] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 0 fun3 insightful - 1 fun - 2 years ago (1 child)
Yeah it plunged and then the plunge protection team saved it so it didn't close down for the day, but the volatility was extreme. Stocks will catch up with crypto soon enough, especially if the fed doesn't print more money and re-lower the lending rates back to 0%. The system has become hooked on free money and now it will have lot of trouble functioning without it.
[–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 0 fun3 insightful - 1 fun - 2 years ago (0 children)
The system has become hooked on free money and now it will have lot of trouble functioning without it.
Seems so
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[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 0 fun2 insightful - 1 fun - (2 children)
[–]magnora7[S] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 0 fun3 insightful - 1 fun - (1 child)
[–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 0 fun3 insightful - 1 fun - (0 children)