Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: sirty143 on August 06, 2024, 08:45:50 AM
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The narrowing Japanese “yen carry trade” has been blamed for the Aug. 5 global market downturn that sent stock markets and top cryptocurrencies like bitcoin and ethereum plunging by double-digit figures. Some experts cite the disappointing U.S. jobs data and Mt Gox-related selling as factors contributing to the decline. See more for yourself here (https://news.bitcoin.com/yen-carry-trade-blamed-for-global-market-rout-jump-cryptos-eth-sale-worsens-ether-plunge/).
Your opinion is greatly appreciated.
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We witnessed the horrifying crash especially on stocks all over the world and it even affected cryptocurrency market as well. This is our interconnected world where something bad that happened somewhere can be like a virus spreading all over the world. What happened was called as the PERFECT STORM that poured cold water on different markets and is telling us that we are living in a world that is so fragile and can self-destruct anytime. I am glad am not into stocks and just concentrate my investments with top cryptocurrencies which made strong recovery after the crash.
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As long as the market recovers quickly, there is nothing wrong with a correction to buy more at a cheaper price, but a sharp and continuous correction is bad and negatively affects the economy, just as happened in 2021 or what was happening in the previous period.
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The latest news that I've read suggest that the market crash will likely pause in the short term. Bank of Japan's pledge not to raise interest rate when the market is unstable. Not sure what their definition of unstable market is, but some analysts suggest that it will likely soothe the market for quite a while. It's quite interesting to see how quick the market rebound, feels like a crypto market at times even though the government definitely won't let the stocks/forex market collapse. CMIIW.
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We witnessed the horrifying crash especially on stocks all over the world and it even affected cryptocurrency market as well. This is our interconnected world where something bad that happened somewhere can be like a virus spreading all over the world. What happened was called as the PERFECT STORM that poured cold water on different markets and is telling us that we are living in a world that is so fragile and can self-destruct anytime. I am glad am not into stocks and just concentrate my investments with top cryptocurrencies which made strong recovery after the crash.
I am also glad that I am not into stocks and still holding onto my cryptocurrencies which are recovering. But this downtrend liquidated over 1.07 billion dollars in 24 hours which is not a small amount. Those who lost their money are obviously not glad about their choice of cryptocurrency. That's why I don't do future trading; there is always a risk of losing everything in future trading. The most profit was made by Binance in this dump.
I don't think after this incident any person will consider taking low-interest loans from Japan. I don't understand what was the damn pressure on Japan to increase the interest rate but if they did it to only strengthen their Yen and to make profits then that's so immoral IMO. They should not have increased the interest rates. A very unpredicted event.