Tue, 18th Jun 2019
This year, the average investor faces some interesting questions. Would it make sense to invest in bitcoin, or would you be better off putting your money into shares? Bitcoin are highly volatile at the moment - having gone from $15,000 down to around $9,100 and then bounced part of the way back in the space of a week. The FTSE 100, meanwhile, is also volatile - not quite so much - but it’s had its difficulties recently after hitting an all time high and it’s been under-performing compared to some other markets.
Over the last few days we’ve seen some reversals of trends, and we’ve seen erratic performances. The markets have a good idea of where they’re going, broadly, but it will be interesting to see what happens if the support or resistance is tested. We’re looking at support at 7,660 at the moment, and if that is broken, 7,640 would be the next level. On the other hand, we could see 7,711 tested as well.
Cryptos, on the other hand, are suffering from a lot of doom-mongering. The latecomers and mainstream investors looking to make some quick cash are selling up, and fears about cryptocurrency being blocked in China have led to some questioning the medium-term sustainability of the idea. The technology is sound, but the days of buying inexpensive coins and getting rich fast could well be on the way out. Those who are willing to buy and hold may still have a chance at profits, however.