Is it Time to Get Aggressive? | Hacked: Hacking Finance
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Is it Time to Get Aggressive?

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Is it Time to Get Aggressive?

Introduction

This article was posted on Tuesday, 12:14, UTC.

Images coming in from Texas are rolling in and some are saying that this is the worst natural disaster to hit the United States since Hurricane Katrina in 2005. To make matters worse, initial reports indicate that most of the victims do not have adequate insurance.

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Many people are rushing to help in any way they can. Some people are actually saying not to trust the Red Cross stating that their response to the earthquake in Haiti was less than adequate given the donations.

Instead, they urge people to find local grassroots charities that will help the people more directly.

One such organization is the Texas based Crypto Show who is collecting donations in Dash and Bitcoin and has reportedly collected more than $50,000 in digital assets and has already begun putting together care packages for the victims. For more information, please visit: http://thecryptoshow.com/unsungdash-charitywork/

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Of course, $50,000 is just a drop in the bucket for a city that is currently under water so every little bit helps.

@MatiGreenspan
eToro, Senior Market Analyst

 

Please note: All data, figures & graphs are valid as of August 29th. All trading carries risk. Only risk capital you can afford to lose.

Market Overview

Texas is oil country. So naturally, the first thing on the minds of many investors is how will the prices of energy be impacted.

As it seems, so far 10 oil refineries have already been closed and the prices of gasoline in the United States has gone up significantly.

The price of West Texas Crude Oil, on the other hand, seems to have been adversely affected as prices are slightly lower than what they were over the past week.

One thing that is also heavy on the minds of investors this morning is North Korea, who has just sent a missile that flew right over Hokkaido Japan.

As you can see on the map, this is a very long flight path and experts are saying that this is the most aggressive launch from the DPRK in almost a decade.

Donald Trump will be visiting Texas today but it would not be surprising to see a Kim Jong Un mention in his morning tweetstorm.

Gold spiked up sharply on the news and the Yen strengthened as Asian investors looked for safe havens.

USD Under Pressure

Whatever the reason, the US Dollar is dropping like a stone.

This has been a common theme in the markets since the beginning of the year. As Trump and the Fed have both been less aggress than was previously anticipated. Trump with his tax cuts and the Fed with their rate hikes.

Over the last 24 hours the US Dollar Index fell below critical support of 92.50 points and many are treating this as a significant breakout.

In this short term chart we can see the price breaking below the red line….

… and if we zoom out we can see why this line is so significant as it has been seriously tested many times over the past few years.

Crypt0 G0

All’s green in cryptoland today. The overall market cap of all cryptocurrencies, which has become a barometer of crypto success is now at its all time highest level of $161 Billion.

Here we can see the growth over the past month. A ‘slow’ but steady rise…

The word slow is only emphasized because this type of growth would only be considered slow in this particular asset class.

The growth has been well distributed too. If only a single currency was surging and responsible for all the growth it would be that much easier to reverse the trend. However, since there is gradual growth in many different coins it makes the move that much stronger.

Wishing you a very pleasant day ahead.

This content is provided for information and educational purposes only and should not be considered to be investment advice or recommendation.
The outlook presented is a personal opinion of the analyst and does not represent an official position of eToro.

Past performance is not an indication of future results. All trading involves risk; only risk capital you are prepared to lose.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



Feedback or Requests?

Mati Greenspan

Mati Greenspan

https://www.etoro.com/

Senior Market Analyst at Etoro.com.

Comments
  • user

    AUTHOR mvppvm_07

    Posted on 2:23 pm August 29, 2017.

    I’m invested in another Texas tech company focused specifically on socially responsible investing. We’ve put up a webpage for Hurricane Harvey relief. I apologize if this is not the right place to link it but we’re trying to get the word out. Here’s the Bitcoin donation link:

    PS: the company https://l.facebook.com/l.php?u=https%3A%2F%2Fwww.onepebble.com%2Fhurricane-harvey%2F&h=ATMbem_pZejuNOByBRxJv6jxG61XTd54mf6E0f-lPmLaO5zmzho9_w4oep9ciYHLrR5bZbjJWfDfKQYrKCIvopa5lO0o8LpzTc_wb6Bh9YGn_5cs8gISMIrVxDmn7mNWMm5L1bgudg

    Donation link: 36FtbFrRgTHxntuB4LtTxVGC4Y4yEmZ2MU

  • user

    AUTHOR Inverstor Clouseau

    Posted on 3:58 pm August 29, 2017.

    How could Japan not retaliate almost immediately upon sensing such an aggregious threat?

  • View Comments (2) ...
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