Markets blow up, so ‘the best prep is to have a plan to buy fear and sell euphoria’ — Veteran trader
Pear Protocol founder HUF says “a limited pool of capital constantly rotating between narratives” is a clear sign of “late cycle behavior.”
Global markets blew up over the weekend, and the onslaught carried on throughout the trading day on Aug. 5 as the DOW and S&P 500 dropped by more than 1,000 points and Bitcoin (BTC) price fell below $49,000. Japan’s Nikkei 225 index saw its worst one-day correction since October 1987, and the sell-off in Taiwan’s benchmark stock index was the worst trading day in 57 years.
Nearly all markets closed Aug.5 in the red, and while it seems too early to conclude that the selling is over, traders are likely wondering whether or not it’s time to start thinking like a contrarian and handpicking assets at a discount?
To discuss what’s happening in this week’s volatile market, Cointelegraph spoke to Huf, the founder of Pear Protocol, a decentralized exchange that allows traders to engage in trending narratives via pair trading.
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Author: Ray Salmond
