Even in the face of recent uprisings, protests, and uncertainties, mainstream US financial markets are showing rising prices due to overpowering forces, according to Morgan Creek Digital co-founder Anthony Pompliano.
"Yes, there are protests, there are all these things, but the greater strength is the fact that now all these companies are opening," Pompliano said in a June 2 episode of "Lunch money"on his YouTube channel." There will be more economic activity and a data should be restored. "
Economy back to function
After weeks of catch-up orders and COVID-19 safeguards, many US states are currently in the process of setting parameters for business recovery, public service and such.
For the past several days, protesters, robbers and everything in between have traveled the streets of many cities, expressing their disagreement with the police-related deaths of several civilians.
American mainstream markets appear to be unstoppable. The Dow Industrial Average, as Dow, a mainstream market barometer, is still recovering.
The economy "fell off a cliff in terms of economic output since we sent everyone 10 weeks inside," Pompliano explained. "Now we are suddenly re-opening the economy," he added, leading in his comments about the greater power of playing under the brand movements.
In & # 39; middle of & # 39; In turmoil, Bitcoin has finally traveled sideways in price, most notably a major spike on June 1, followed by a massive drop on June 2.
Markets are emotional
Responding to a comment from CNBC's Jim Cramer, in which Cramer pointed out the lack of conscience in the stock market, Pompliano explained that the market has no emotion. People may be emotional in investing and trading, but the market itself has no feelings.
"What just happens is that people are speculating on the recovery of the economy," Pompliano said in relation to the emerging market.
He further explained:
"They speculate that future recovery is coming. You see that all shares are rallying. When the price rallies as we have seen, everyone starts buying FOMO inside and buying more and more, and it pushes prices up higher. Plus , your layers in all federal reserve prints of money. "
Several recent indications also show increasing interest in the crypto space. Paul Tudor Jones, for example, published a crypto to his holdings a month ago.