The Coming Crypto Bull Cycle?
Degenerate Business School
English - October 17, 2021 23:00 - 33 minutes - 22.9 MB - ★★★★★ - 16 ratingsInvesting Business News Business News Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
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Inflation is officially not transitory. But with economic growth prospects dimming (see Goldman and the IMF) and fossil fuels in scarce supply, the 10 year treasury yield retreats below 1.6%. With the benefit of hindsight, we observe that limited MegaTech panic selling was driven by the suddenness of bond yield moves. But as for the rates themselves, they make little difference (unless we verge back to 1.7% in a hurry).
Against that backdrop earnings season begins favorably, injecting risk appetite back into equity markets sector-wide. The established banks all posted strong results, though traditional loan growth is waning.
And Bitcoin breaks above $60k, capping a rally from last month's low of ~$40k as anticipation builds for SEC approval of a Bitcoin futures ETF. According to anonymous Twitter sage PlanB, the next level of resistance is $63k. We watch.
Plus, the latest on FB, MRNA and TIGR. As well as Bobby's wave surf on AMZN.
This week's charts: Bitcoin and Moderna!
BTCUSD
https://www.tradingview.com/x/IzRBcgIi/
MRNA
https://www.tradingview.com/x/0xpLohvX/