![]() ![]() Sentiment among traders was high though, after BlackRock CEO Larry Fink gave bitcoin perhaps its biggest ever endorsement from a major institutional player. That will eventually be broken, but meanwhile traditional markets seem to be entering a more risk-off mood – we can't yet assume that bitcoin will just shrug that off." "We have often over the past few weeks seen selling resistance at around $31,000. "There is still a weight on the price," said Noelle Acheson, economist and author of the "Crypto is Macro Now" newsletter. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower It might be a good time to invest some cash from the sidelines and think about quality investments - companies that are profitable and have strong enough balance sheets to survive an increasingly likely recession.Best Debt Consolidation Loans for Bad Credit The extreme optimism and euphoria are long gone, suggesting that we’ve already seen much of the downside. The VIX is at 23 today, this indicates traders are expecting prices for the stock market to swing by 1.5% daily. If you divide the value of the VIX by 16, you get the estimated daily price fluctuation of the market for the next few weeks. Now, the important thing about the VIX Index is that it represents a forecast of risk over the next month. Stocks are down, but most have not crashed - outside of the tech sector, that is, which really has collapsed. There are also no clear signs that the worrying is over anytime soon. We’ve seen nothing that resembles the panic selling of previous crises. The VIX Index is sometimes known as the “Fear Index,” because it tends to spike during times of panic. The most publicized measurement for volatility is the least understood. Putting a value on uncertainty, complexity and ambiguity is difficult. None of this helped build confidence in Bitcoin, which was already down -70% from its peak before any of this happened. FTX declares bankruptcy by the end of the week.
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