Stock Markets On Holiday; Bitcoin Continues To Crash, Gold Surges

25 December 2017 (7:50 AM IST)

24 December 2017 (9:19 PM EST)

Trading in major stock markets around the world will remain closed today for Christmas holiday. But other segments of financial markets such as commodities and forex markets are trading and making waves right from the start.

In Asia, China, Japa and Taiwan stock markets are open for trading today, and are mostly lower and choppy. U.S. and European stock futures are open for trading but not much activity is seen her due to low volumes. Mostly, these numbers are negative at the time of writing.

But the real trading is happening in cryptocurrencies that have been creating, and in commodities, especially Gold, that has benefited by this crash.

Just a week ago, cryptocurrencies like Bitcoin, Ethereum, Bitcoincash, Litecoin  had been surging wildly and the Bitcoin had been hogging headlines for surging up to nearly $20,000. Then as happens with all bibles, last week, when Warren Buffett’s business partner Charlie Munger warned against bitcoin and other crypto currencies, the bubble finally burst and Bitcoin collapsed, dragging down other cryptocurrencies too.

bitcoin price chart

Bitcoin Crash: Prices fall below $13,000

That Bitcoin crash continued over the weekend and today, a new week has again started seeing drop in Bitcoin price. Yesterday, Bitcoin had fallen below its major psychological support of 12,000 and today also, it looks like this cryptocurrency will again test that support.

Bitcoin bubble is eerily similar to Tulip Mania, and could end the same way. Traders and investors have been so taken in by this Bitcoin mania, that they started pulling off they money from Gold in commodities markets and started investing in Bitcoin. That is is one of the main reasons why Gold prices have been falling in international markets recently. But now, those speculators are running back to Gold and its prices have been climbing back as Bitcoin prices fall.

So, if you are addicted to stock trading, and want to enjoy some big market moves, then watch Bitcoin prices, Gold price charts and learn some tricks of day trading. Believe me, just by observing technical charts; of any entity- be in forex markets or commodity market, you can understand how to trade in stock market. Basically, day trading strategies are the same across all financial trading segments. Use this holiday in stock markets as an opportunity to observe the trend in other segments, learn how support and resistance levels behave universally, then utilize the same trading strategies  on stock trading charts.

Good luck and Merry Christmas!

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