I was going to buy in this morning, then I did a bit more researching. This “Evergrande dip” is not happening, it’s about to start. Thursday the 23rd is when Evergrande’s loan payment is due, which they can’t cover.
The Chinese exchanges will open at 9:30am their time, which equates to 9:30pm EST. You may see a huge dip then, which may or may not get worse as their trading day goes on. Smart investing says liquidate crypto first, as it cannot cover traditional payments. I personally expect to wake up to a shitshow tomorrow.
If the company craps the bed and the CCP doesn’t bail them out, there will be a snowball effect on other companies and more people will need more liquidity. This could see big dips in Crypto over the next week(s).
Not sure what my move is yet. Wait for a bit, or if there is a big dip tomorrow, buy it incase there is a upward correction soon.
This is pure speculation as the flair suggests, not financial advice. I don’t know what I’m talking about