Stock Market Today: Goodbye Bitcoin

January 21, 2022, 12:09 am EST

Goodbye Bitcoin

Bitcoin plunged another -9% as of now at 38982 level that is the time to say goodbye for its good days. Indeed, its recent peak of 68000 made by last November, only two months ago, became hard to reach in the future. In fact, its downward spiral could bring it back to the 10K level made two years ago. 

The crash or collapse of the financial markets would hit risky assets at the strongest level. Therefore, protecting your assets and capital should be the number one task in this market. 

Although we do not know how low the stock market will go, we think it could be a drop of 50% to 80% from its peak in terms of the Nasdaq index. It could be a -90% drop for all cryptocurrencies. 

Cash (US dollar) should be the king when these virtual currencies belly up.

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