Authored by Charles Hugh Smith via OfTwoMinds blog,
The point is institutional ownership of bitcoin is in the very early stages.
If I had a bitcoin for every time some pundit declared bitcoin is a bubble, I'd be a billionaire.
There are three problems with opining that bitcoin and cryptocurrencies are bubblicious:
Having started off with a sharp gap lower following Sunday's news of the latest, 6th nuclear test by North Korea, global stocks and US futures pared losses in the overnight session, despite reports of North Korean preparations for yet another missile launch, while the yen trimmed its risk-off gains even as gold kept its upside and the South Korean Kospi closing 1.2% lower, with traders asking whether "this time will be different:, or inversely, will today's market reaction will be a carbon copy of what happened last Monday, when stocks gapped sharply lower on North Korea mi
While intra-month the CBOE Volatility Index reached its highest since November, before plunging back to earth into the end of the month, VIX is still on track to post its lowest annual average on record.
Bloomberg notes that in the past decade, VIX gains in August were followed by September declines in all but one instance.
While VIX has collapsed so far this year, it may not last.
Authored by Adam Taggart via PeakProsperity.com,
The planet-sized egos of rock & roll performers are legendary.
Few things symbolize this better than the outrageous requests they often make when on tour.
Authored by Dmitri Speck via Acting-Man.com,
Recurring Phenomena
Many market participants believe simple phenomena in the stock market are purely random events and cannot recur consistently. Indeed, there is probably no stock market “rule” that will remain valid forever.
However, there continue to be certain statistical phenomena in the stock market – even quite simple ones – that have shown a tendency to persist for very long time periods.