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DJI: 1929 and 2020 Similarities Revealed

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@tobetada
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Good day Steemians!

Join me in analyzing the crypto markets!

 

As I am currently using my phone to post, I want to excuse using screenshots as well as formatting errors

In early September I made a post entitled DJI speculation 1929 repeat? which argued about the similarities of the situation before the great stock market crash of 1929 and our current bull rally.

In this we identified 3 peaks which have shown up in 1929 as well as in the years 2017 through 2019. On the basis of this we argued that we should see a strong upwards movement after the 3rd peak in 2020, coinciding with the last upwards push in The middle of 1929.

This has been confirmed as seen here:

the market situation between 1929 and 1930 with the 3 peaks

the market situation currently with the 3 peaks as well as the date of when we last analyzed the market

what can we expect in the near future?

Well based on the markets in 1929 we still have a bit more room to the top. In the 1929 chart we can see that the last bull movement was halted midway only to resume again. This is where I believe that we are now. If this turns out to be a correct analysis, the DJI should reach into the 30ks, probably to about 31k and 32k. After this we should see the next big correction which will probably end in a recession. And if it is anything like 1929 it will be quite hard.

Note, however, that this is not a full analysis. There are many other factors that should be taken into account. I merely want to address the similarities between the two time frames and the possibility of a strong market correction that a lot of other people are warning about as well.

If you are interested how this might affect the crypto markets, read my post here.

 


As a general reminder: Please keep in mind that none of this is official investment advice! Crypto trading entails a great deal of risk; never spend money that you can't afford to lose!