Today is Christmas Day in Tokyo, and we use this day as a day of rest and dating. The Japanese have promoted this day, remember that 98 percent of the population is Buddhist and Shintoist, as a commercial day with shopping and lunches/dinners by young couples and families. So it is fine to write today.
I have a short message as I see a pattern emerging. The US equity markets are collapsing and funds seem to be, while the Dow, S&P 500 and Nasdaq are breaking down, in the process of being reallocated into the crypto market. Have a look at some of the crypto names that have rallied 35 to 40 percent this past week. It seems that as many people are selling the US stock market, they are seeing Bitcoin, which by the way was trading down 84 percent in early December, as an attractive buy. Let’s remember that US stocks are on schedule for their worst month in a decade as investors are being forced out of positions.
We at Classiarius are looking for Bitcoin to trade to $9,000 or higher by February then $15,000 by March. The rally could surprise investors.
Selling US equity and buying Bitcoin, Ripple, and assorted other coins looks like a winning trade that is making more sense each day.We at Classiarius see the US equity market coming under more pressure in the coming week and therefore like covering short positions. As such, buying Bitcoin and other digital coins might be a great way to start 2019. We do not give trade ideas, just suggest that trends or patterns are developing.