Saw news about potential escalation of tensions between Iran and Israel over the weekend.
With that, there are reports on Bitcoin falling around 10% at one point. It has since cut back some of the collapse.. To be frank, it is difficult to ascribe a valuation for Bitcoin and cryptocurrencies as the technology, security and concept behind them are not easy for me to think through the product use cases.
If this is the case, I will simply see it as a proxy to look at risk assets' sentiment in general. I would not be surprised that in the coming week, the risk assets should display a relatively decent pricing without the fear seen this weekend in relation to Bitcoin's price movement.
Why? Its an election year and I do not think Biden would want further escalation. However, we should not forget that during Biden's term, there are a few escalations in different regions. I do hope for world peace.
For time being, I will not derisk as my stock selection is more on business fundamentals rather than momentum assessment.
As always, this should not be construed as any investment or trading advice.
$Tiger Brokers(TIGR)$ $XIAOMI-W(01810)$ $MicroStrategy(MSTR)$ $Coinbase Global, Inc.(COIN)$ $Robinhood(HOOD)$
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As someone who values harmony and understanding, I hold a deep-seated wish for world peace. I hope that by fostering empathy and dialogue, we can pave the way for a more peaceful and prosperous world, where all individuals can thrive in safety and security.