Hong Kong Markets LOWER!
The Hang Seng Index in Hong Kong fell slightly and the market gave back a bit of its retreat. A standalone 18-point drop isn’t particularly dramatic, but I think it’s important to pay attention to what happens in the next phase. #hangsengcloses18pointslower
Asian markets are already feeling some pressure, and rising oil prices along with concerns about the global economy are making investors a bit more cautious..
For crypto, I wouldn’t panic over a small Hang Seng drop. I think the main issue is the market’s atmosphere. When people start to get worried, they are usually less inclined to take risks.
This could mean less money flowing into Bitcoin and especially into altcoins. If Asian and US markets continue to weaken, I think crypto may feel additional selling pressure in the short term.
The Hang Seng Index in Hong Kong fell slightly and the market gave back a bit of its retreat. A standalone 18-point drop isn’t particularly dramatic, but I think it’s important to pay attention to what happens in the next phase. #hangsengcloses18pointslower
Asian markets are already feeling some pressure, and rising oil prices along with concerns about the global economy are making investors a bit more cautious..
For crypto, I wouldn’t panic over a small Hang Seng drop. I think the main issue is the market’s atmosphere. When people start to get worried, they are usually less inclined to take risks.
This could mean less money flowing into Bitcoin and especially into altcoins. If Asian and US markets continue to weaken, I think crypto may feel additional selling pressure in the short term.
