In less than 12 hours the Chinese markets open. For those unaware, they have been closed the last 2 days for holiday in China. Looks like approximately 9:30 am over there is the open, which puts us at about 9:30 pm EST.
That’s when the Evergarde shit will hit the fan. Multiple things could go down:
1.) CCP announces a bailout for them. Unlikely currently, but NOBODY wants a repeat of 2008.
2.) MASSIVE crypto pump today. Like all the big ones (ETH, BTC, etc) see gains of 4-5% or more. This could be indicative of a coming dump on Wednesday/Thursday. Beware of seeing pumps close to 9pm tonight (EST).
2a.) …But also, the dumpage yesterday could mean a massive rebuy of crypto that could be hiding assets of those that invested in Evergarde. It could be a good thing if we see prices in the green today. However, that boils down to money laundering, so if that IS the case, expect a response from the Fed on US soil in a week or 2 clamouring for regulations if this is the case.
3.) The markets will be dumping hard. Stocks, bonds, and crypto to liquidate. It most definitely affects global markets just like the 08 crash did (though not as large). Expect to see drops on futures, and throughout Wednesday and Thursday. Friday might see some corrections from this.
4.) Crypto is going to be liquidated first. Honest truth and a hard truth. It’s intangible digital money. And even will all the evidence of “practical us”, it can’t be used for shit and smart economics says ditch it first. Think of how much you buy with actual cryptocurrency (not crypto you converted to cash) and realize this is mostly true.You get your cash assets out of it to bail yourself out of their junk bonds and bad margins. After that, liquidate stocks as well. Same shit.
5.) There could be an impending downturn for major crypto. BTC sub $35k, ETH sub $2200. This shit scares everyone.
6.) Maybe this is all wrong and the crash part happened yesterday and now it’s green dildos for the rest of September.
TL; DR: September still sucks for crypto. But I think we will bull run in October when this shit settles the fuck down.