I want to cover something I usually let other investors explain: Bitcoin volatility today.
I typically keep my focus on traditional things like stocks and bonds, but I’ve quickly come to find out that nothing about the stock market is typical anymore…
And that means I need to adjust my trading lenses and give you guys a wider picture of the incredible moves Bitcoin has been making here recently.
Bitcoin is a real asset class now and worth investors’ time in examining the cryptocurrency closer.
Especially now with the news that hit this weekend in Bitcoin land…
There was a massive power outage in China’s Xinjiang region — the place where a huge amount of worldwide Bitcoin mining occurs.
Many investors are speculating that this is behind Sunday’s violent cryptocurrency crash that drove Bitcoin’s value down nearly 15%.
But I think that’s just one of the factors that led to major bitcoin volatility today.
Bitcoin Volatility Today: Why China Is the Key
There has been some unconfirmed speculation that the U.S.Treasury will begin targeting and investigating institutions that facilitate money laundering via Bitcoin and other cryptocurrencies.
Either way, I woke up Sunday morning to a 14% decrease in my Coinbase account.
Talk about an unpleasant Sunday surprise.
But Bitcoin’s volatility today and yesterday’s news piqued my interest in the cryptocurrency. So I decided to take my analysis a step further and dove into Bitcoin’s chart activity to see where this could go, and how Bitcoin will trade over the 24-hour news cycle.
And I think you might be surprised with the pattern I was able to discover while doing so…
Check out my short video below to learn more about today’s Bitcoin volatility. Be sure to share your thoughts in the comments section below.
And as always, send any trading questions to jeff@joyofthetrade.com and stay ahead of the markets, especially these choppy ones, by subscribing to our YouTube channel.
P.S. Future of Wealth Head Trader Lance Ippolito just told me something crazy, guys…
He says he owes all of his success to an unusual stock market phenomenon he’s calling a “Breakout Date.”
It’s an explosive date that’s tied to only 19% of publicly traded companies…
And while the dates don’t have anything to do with earnings, Lance says they’ve been responsible for steady gains on biotech stocks like 143% on AUPH in 10 days… 175% on BHC in eight days… and even 210% on CRMD in 20 days.
So Lance decided on a quick training event to show everyday folks how they can spot these explosive dates for themselves…
Learn How to Potentially Spot the Next “Profit Date”
