The Prime Minister has jumped on the latest distraction from the government's woes. The big problem is he's not actually prepared to confront the biggest area of concern.
I was going to talk what I usually talk about - what happened with the US mkts Friday but then the Iranians decided to launch their very well flagged 'attack' on Israel.
I myself knew something was up when an alert on my iPhone told me that Bitcoin price has just tanked like USD$5,000 inside 40 minutes Sunday early Morning.
Bitcoin hit a low around USD$61,200 on Sunday morning but it was already starting its decline Friday evening when it was trading around USD$71,000
At the time of writing this note BTC is USD $65,759 so inside like 48 hrs the price of Bitcoin had dropped USD$9k and now rebounded USD$4k
The Iranian regime post a statement on X which I won't re-print here other than this part which crypto traders over the weekend same to have taken some comfort.
“The matter can be deemed concluded.”
The wild card is IF Israel decides to launch their own 'decisive response?'
Apparently, the Israeli war cabinet voted to "exact a price from Iran in a manner and at a time that is right," but not immediately, according to US officials.
It was also reported that it cost Israel more than $1bn to activate its defense systems that intercepted Iran's massive drone and missile attack Sunday, according to a former financial adviser to Israel's military.
"The defence tonight was on the order of 4-5bn shekels [$1-1.3bn] per night," estimated Brigadier General Reem Aminoach in an interview with Ynet news.
Aminoach highlighted that the staggering price tag stands in contrast to the relatively low amount that Iran had spent to launch its assault, which some estimates have put at less than 10 percent of what it cost Israel to stop the attack.
Anyway, at the time of writing, US futures are up like 0.25%. Given the DOW dropped 1.25% and the NASDAQ 1.62% on Friday a bounce after the storm is expected.
But keep an eye on the BTC price. If it should keep on improving then there could be a green light when US mkt re-opens for their Monday trade. But 'Retaliation Risk' is very real and so it just goes that things currently are still volatile and the mkt is looking for an excuse to have a bit of a sell off.
Happy Monday!
Sign up for the Andika Bulletin
Find freedom. Create wealth. Build a better life with the Andika Bulletin and Confidential Daily.
No spam. Unsubscribe anytime.
This information contains unsolicited general information only, without regard to any individual’s investment objectives, financial situation or needs. It is not specific advice for any particular investor or trader. Investment in the stock market involves risk.
This information may not take into account your investment objectives or financial situation, and you should obtain advice based on your own individual circumstances before making an investment decision.
This information is made available to you by ANDIKA Pty Ltd ABN 41 117 403 326, a licensed securities and derivatives dealer (AFSL # 297069).
Andy is the founder of ANDIKA Pty Ltd, a licensed securities & derivatives dealer. He's the author of fiction and non-fiction books and has been a University lecturer on risk and investment.
