Bitcoin is showing strength. It seems like the Black Monday effect isn’t showing up in
$BTC.
We still need to wait for confirmation when the U.S. stock market opens.
BLACK MONDAY CRASH COMING?
CT is talking about possible Black Monday tomorrow, October 19, the anniversary of the 1987 crash, when the Dow fell 22.6% in a single day.
Here are some of the reasons people think we could see a massive sell-off in the U.S. stock market tomorrow:
• Oil prices surging towards $110
• Bank stocks facing selling pressure
• AI stocks crashing
• Rising bond yields
• Rising geopolitical tensions
• And many more reasons.
This week has been negative for U.S. stocks, with the S&P 500 falling around 2.5%.
IMO, the Black Monday narrative is mostly speculation. We could see more selling pressure, especially given the current market uncertainty and also market is already at an ATHs.
Another thing is that investors have now become more mature, and there are also big players in the market. This is why I don’t think we will see sell-off similar to Black Monday.
I would like to know your thoughts on Black Monday speculation.