Peter Russell

Biggest surge in the Dow since 1933 probably doesn’t mark the bottom of this bear market

Stocks are showing some signs of finding a bottom and markets are looking better with some improvements in credit and buying interest in stocks.
The market has been lifted by the promise of a big stimulus program from Washington and a huge blast of monetary stimulus from the Federal Reserve.
Strategists warn it could be a temporary bottom, and there will be no real bottom until it is clear new coronavirus cases in the U.S. have peaked.

Bitcoin Price Turns Bullish as Traders Fight to Flip $6,400 to Support

Bitcoin (BTC) price perked up today, rallying from $5,688 to a daily high at $6,600. The digital asset defied the worst fears of analysts by holding above the $5,400 support and currently Bitcoin continues to show growing strength in the face of wilting equities markets.

Interestingly, gold and silver prices also rallied 4.42% and 5.94% as the S&P500 and Dow closed the day with moderate losses. This could indicate that market participants who recently exited their stock positions could be looking for shelter and growth in store-of-value assets.