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You need a strong heart for this market?

You need a strong heart for this market?

March is here. How is the market performing?

Let’s start with the US stock market

Last Monday, Spark Therapeutics (ONCE) stock spiked 120% in 1 dayafter an M&A announcement that Roche will acquire it for $4.8 billion. That’s a whopping 2X or two bagger stock!

What’s the key takeaway of ONCE?

Back in July 2018, the stock price peaked at $96. But within 6 months, it dropped to a 52-week low of $35. At this point, most traders would have bailed out. That means, they realized their losses when they buy-high and sell-low.

Sometimes, it pays to reflect on Patek Philippe’s tagline, “You never truly own a Patek Philippe. You merely look after it for the next generation.” We should embrace this spirit for stocks.

Today, ONCE spiked to its all-time high at $113. This is truly the beauty of investing in stocks!

Moving on, let’s visit the crypto market

Last Sunday, I witnessed first-hand how Ethereum price spiked to $165 in the morning. By evening before I went to bed, it tanked to $136. That’s like 12 hours of euphoria mixed with diarrhea!

Rise & Fall of ETH on 24 February 2019. At 11.22am, ETH spiked to $165. By 10.52pm, ETH tanked to $136.

How do you explain to someone who’s totally new in this game?

In my last two blog posts below, I wrote about the significance of this date: 27 February 2019.

1. Five Important Dates for February ㊗️
2. The Mystic Number of 2702 ㊙️

One of the reasons for ETH pricing to behave this way was related to Bitcoin. It failed to break the resistance of $4,200. More importantly, as of this writing, there is still no news regarding the approval of Bitcoin ETF by the SEC. From the latest publication, hopes remain high for an approval though.

Why we need to track both the stock and crypto markets?

First, according to a report by Credit Suisse and its 2017 Global Wealth Report, the wealthiest 10 percent in the world control 88 percent of total wealth. The wealthy also control almost all of the wealth created via financial markets which have benefitted from record prices for stocks in the U.S.

Second, Spiking is planning the listing of SPIKE tokens on Kryptono Exchange very soon! As such, the exact date has to be determined by monitoring closely the cryptocurrency market.

08 Mar 2019 Stock MarketCryptocurrency Market
The views and opinions expressed in blogs are those of the authors and are not the official policy or position of ICObench. Any content provided by our bloggers or experts is of their opinion and they are fully responsible for it. ICObench is not legally responsible for the blog's content.

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