The cryptocurrency market has plummeted today! Is there more to come?
Since April 2, Trump's 'Liberation Day' arrived, the US stock market has continuously fallen, evaporating nearly $6 trillion in market value, with the Dow plunging by 2000 points and the S&P dropping by 6%, marking the largest single-day decline in five years! Market sentiment is quite unstable…#加密市场回调
One can't help but compare it to Thursday, April 29, 1929, when the US stock market crashed at the opening, and the Morgan consortium attempted to rescue the market, but to no avail! After Thursday, it initiated a subsequent series of declines, leading to Black Friday, and by Monday and Tuesday, the US had opened the curtains on a devastating financial crisis!
The stock market crash of 1929 could have been contained within the financial market. However, the Smoot-Hawley Tariff Act ignited a global trade war.
Pushed by President Hoover, tariffs in the US increased to the highest level since 1909. Similar to what Trump is doing now.
So, is history about to repeat itself, with the highest tariffs making a comeback?
There are too many unsettling similarities between now and 1929:
1. Sudden policy changes causing widespread market adjustments
2. Investors' blind faith in overvalued assets has begun to unravel
3. The highest decision-makers mistakenly view 'trade' as a remedy for economic contraction
4. Weekends have become a dividing point for market sentiment, and weekends have become the critical point for emotional outbursts in the market
Is everything traceable? But will this time be different? The difference this time is: currently, global interconnectedness is higher and will be more sensitive than last century! We hope this time it is not the market's ultimate pressure!
Wealth code, trends ahead, layout behind!
