It's mid March and being St. Patrick's Day yesterday, there wasn't much "green" in the Market's close for last week. Down and a sea of red.
Being a long term investor, I don't get all the panic and selling when stuff hits the fan. They call it contagion or contagious fear/selling I guess. Some banks in the US ran into trouble and that's all over the investing news as well as Credit Suisse across the Big Pond, which caused outright global fear for a day until the following day when it was announced it had billions in a line of credit to tap into.
Canadian Banks come to mind like CIBC (CM) and Bank of Nova Scotia (BNS) with National Bank of Canada (NA) being popular these days. ETF's that hold these banks are lower in price as well ... for now.
Meanwhile ... Bitcoin (BTC) and Ether (ETH) continue to climb in price. Bewildering for sure with all the downfalls in the Crypto market these past months. Going opposite to the stock market. As always ... very volatile when it comes to risk.
I assume the start of that climb was due to a couple of the largest "Stablecoins" losing their peg ... or equal to 1 US dollar for every USDC, for example. Where to transfer coins in a panic? Depending on the Exchanger ... not many options for some but to trade to BTC and/or Ether. That was probably a flurry of millions to billions of dollars worth of transactions overall.
However, USDC with Circle and Coinbase behind it ... is back to normal at this time. 1 USDC = 1 USD, give or take a few cents.
Bitcoin holders that were patient and didn't sell with the collapse of some big outfits and more US rules introduced, costing a few US Exchangers big bucks in fines to conform to the new regulations ... should be pleased with the boost in price lately. Sell some while it's up or continue to hold ? comes to mind I'm sure.
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