15 April 2024: Risk assets in the week of uncertainty
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.