FX.co ★ US market is trying to climb higher

S & P 500, daily chart.

The US market is trying to grow, despite the fact that prices for purchases are already completely inadequate.

It seems that upcoming liquidity from the Fed is causing this. However, we should understand that growth cannot be sustained with the current price conditions.

In fact, a correction is about to break out, and inexperienced buyers may find themselves stuck for a long time. Hence, even if we want to buy, a strong pull back will occur, at least to the 50-day moving average.

Aside from that, Elon Musk has invested approximately $ 1.5 billion in Bitcoin, which shook markets.

Musk is an extremely risky businessman, in which more than once, he found himself on the verge of ruin.

But at the same time, he is also one of the greatest businessmen at present. Musk has made a breakthrough in electric cars (Tesla), forcing the world's auto monsters to follow him. He has also revolutionized space, by dramatically reducing the cost of launches. To date, his Starlink project has reached an unprecedented scale, and he still has time to study the human brain.

However, Bitcoin is obviously an extremely risky instrument. Its intrinsic value is essentially zero, and we have already seen a 10-fold drop in the cryptocurrency, from $ 30,000 to $ 3,000. Who is certain that this will not happen again?