Markets Focused On Omicron

Markets from Stocks to Crypto sold off yesterday as panic ensued over a new covid variant that is supposedly even more virulent than Delta although this hasn't been confirmed.

The sell off in stocks was also pretty sharp with 2% and more declines across the board. The VIX is also at 28 which is also a good starting point for long term buying although short term, the market could still tank.

Personally, once the dust settles from all this panic, I think the markets will head up again because it means that the Fed will postpone the tightening of monetary conditions till 2022.

I bought some Bitcoin at 54800 yesterday and my next buy level is 46000 if we get that low. The Plan B scenario of $95,000 by end of November does look unlikely at this point with only three days to go till the end of the month.