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I love watching the bull market FOMO build up! 🐂
Following America, China announced a rate cut and began easing monetary policy, namely, it proposed creating a $113 billion fund to buy back shares and asked banks to lower mortgage rates.
On this news, the Chinese stock market is +4% in a day, crypto Twitter is already all in rockets, that there will be so much new liquidity that we will all drown 😂
In fact, analysts clicked on the calculator and correctly calculated that these $113 billion are only 0.7% of the capitalization on Chinese exchanges. Add to this the general mistrust of the credit system in the country and the crisis in the real estate market.
We get a classic acceleration of FOMO in the market, when “on rumors” everything has already been bought off and, most likely, this is only the beginning of the wave of “buying off on good news”. 4 replies
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