It will hit $5 again but I don't think it will be by the end of this year.
There is far too much volatility in the market. SP500 is about to hit all time highs and last time recently did that it dropped 6% the next day - last time it it made that exact same play was the dot com bubble and also the Great Depression.
On top of this the stimulus payments have now ceased in the U.S - no more "money printer goes brr" - no more inexperienced buyers feeding the top - no more spending. This market is far too anchored to the SP500. Im expecting a dump around election time. I'm also thinking Biden's veep is going to have a play at the presidency.
Next quarter we will have reports that have no stimulus and no travel. It's going to be dark. It's also going to get dark for a while. I'm calling ~$1.73 before this time next years.. maybe lower if it breaks resistance levels at that time. Also it will be around the same time that it's announced that the Tokyo games are not going ahead.
It will however hit $5 again but I don't think it will be before December. As I said, this is a long, long game. Virgin CEO is predicting (and preparing for it to take 3 years and I trust the data he is looking at).
Look at it this way, there will be many buying opportunities over the next ~40 months or so.
WEB Price at posting:
$3.50 Sentiment: None Disclosure: Not Held
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