{"id":416372,"date":"2020-02-28T16:04:56","date_gmt":"2020-02-28T16:04:56","guid":{"rendered":"https:\/\/ktsl888.com\/?p=416372"},"modified":"2020-02-28T16:04:56","modified_gmt":"2020-02-28T16:04:56","slug":"sp-500-crash-resembles-illiquid-altcoin-crypto-whale-dump","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/sp-500-crash-resembles-illiquid-altcoin-crypto-whale-dump\/","title":{"rendered":"S&P 500 Crash Resembles Illiquid Altcoin Crypto Whale Dump"},"content":{"rendered":"
Fears over the possible implications of the coronavirus pandemic have caused the stock market to crash with one of the sharpest one-week declines in the history of the S&P 500, making its chart look like that of an illiquid altcoin<\/a>.<\/p>\n How does the comparison stack up? And why are investors in the stock market so shaken up that the selloff so closely matches that of a crypto asset with low liquidity altcoin?<\/p>\n Panic over the impact the rapidly spreading virus<\/a> may have on the global economy, ranging from its shutting down of manufacturing facilities to it limiting travel to parts of the world that are particular hotspots for potential infection.<\/p>\n The death toll is rising, and health officials are struggling to prevent the spread of the virus.<\/p>\n Related Reading | Has the Coronavirus Put an End To the Bitcoin Safe Haven Narrative?\u00a0<\/a><\/strong><\/em><\/p>\n The spread has also reached the world of stocks, cryptocurrencies and more<\/a>.<\/p>\n Financial markets have been a complete and utter bloodbath over the last week, as fears over the coronavirus reaching the point of peak pandemic mounts.<\/p>\n Even the S&P 500<\/a>, a major barometer of the overall health of the largest companies in the United States has dropped nearly 300 points over the last month.<\/p>\n The steep fall over the last week has caused the otherwise stable stock index to resemble the price chart of an illiquid altcoin, that a random crypto whale decided to dump their holdings on in with massive market sell.<\/p>\n In fact, the chart looks very similar to that of an IEO token, Matic<\/a>, when viewed on different timeframes.<\/p>\n <\/p>\n Matic gained notoriety a few months ago when the altcoin experienced a massive pump and dump.<\/p>\n <\/p>\n When comparing the two charts, the price action appears to be similar. Given what happened to Matic in the trading sessions following, the dump in the S&P may be far from over.<\/p>\n <\/p>\n Despite the stock market sinking across most major indexes, the Dow Jones Industrial Average \u2013 another major US stock index \u2013\u00a0just triggered a TD 9 buy signal on daily timeframes.<\/p>\n Related Reading | Altcoin Market Trading Volume Reaches New Crypto All-Time High<\/a>\u00a0<\/strong><\/em><\/p>\nStock Market and Crypto Investors Remain Spooked By the Coronavirus<\/h2>\n
S&P 500 Price Chart Resembles Illiquid Altcoin Dump<\/h2>\n