Once again, September has brought with it a buyer’s market for cryptocurrencies. Bitcoin is down 7.5% since September 1st and Ether plummeted from $488 to $359.
The sell-off is part of a broader “nightmare month” across financial markets. Megacap tech stocks, such as Apple and Alphabet, lost 20% of their value in September, which dragged the S&P 500 down with them. Gold and silver both lost value in September as well.
The market cool-off has created buying opportunities across the board. As systemic uncertainty eases in the months ahead following the release of the U.S. election results, coronavirus vaccine trial news, and Q3 earnings reports, we expect a strong market rebound.
For months, analysts feared the resurgence of a tech stock bubble. September’s market correction was the long-awaited sell-off that has brought America’s biggest tech company valuations back down to reality. As uncertainties are resolved in the months ahead, investor confidence in U.S. equities will rise and likely precipitate a market-wide rebound toward the end of the year.
Originally, we thought all signs pointed toward a steady recovery. But the reality is that the rebound is probably going to look more parabolic than we thought. Expect a faster, bigger price rebound soon.
The crypto bulls are stepping in and, amid widespread uncertainty in the traditional financial markets, are parking their wealth in cryptocurrencies.
The cryptocurrency market took a nosedive when the news broke that the U.S. President and First Lady tested positive for COVID-19. As the President leaves the hospital, expect the market to rally due to a reduction in market uncertainty.
There’s little doubt that cryptocurrency prices are suppressed. Due to social and political uncertainty, the whales are holding back. No matter the outcome of next month’s election, or whether we receive news on the COVID-19 Phase III trials, expect the crypto market to rally. With less uncertainty, we’ll see more positive price action.
When it comes to gold and silver, both precious metals took a hit in September.
Again, we have another excellent buying opportunity on our hands.
For the past two weeks, gold has trended sideways. However, the technical analysts are forecasting a breakout in the weeks ahead when gold eclipses the critical $1,960/1965 price barrier.
Before gold makes its next rally above the $2,000 mark, you’re going to want to strengthen your position. Now is the time to invest in a gold IRA or to add IRS-approved silver bullion to your portfolio. This way, you can capitalize on the gains both metals will enjoy in the months ahead. Want in on even more gains? Open a cryptocurrency IRA before the October rebound kicks off. With less uncertainty in the market a month from now, we’re going to see alternative assets like gold, silver, and crypto see sharp, sudden upward price movements. Don’t miss out.