To chaiye chalte h 12K ki taraf.
#BTC https://t.co/Yd4iZqC42s

This doesn't even look like a correction now. Looks more like an impending crash. Marked base looks inevitable.
#Crude

Still maintaining this view for one last dip before banks start to outperform big time.
#Banknifty

The current formation might look like a falling wedge, but the way moving averages are placed, it looks like a falling wedge which can lead to a parabolic downmove for the marked target.
#CNXIT

Tulips, the #Bitcoin of the 17th century

How a pandemic, FOMO, and speculation made a flower worth the same as a mansion

/THREAD/

1/ During the beginning of the 1630s in the Netherlands, tulips were difficult to cultivate and preserve.

This made them a luxury good reserved for the rich and affluent of the upper class living in mansions with big gardens.

2/ The tulip market was not organized nor regulated, as other trades, which made it easy for professional growers to enter it.
Due to the international trade expansion, the growers starting cultivating rare varieties, to achieve higher prices.

3/ The biggest change occurred when florists used tulip bulbs as speculative assets.

The market expansion led to forward bulb-purchase contracts, thus enabling trading during the entire year, and not just during the summer months when tulips bloom.

4/ Easy loans and credit for forward contract purchases led many to enter the market since not much capital was required.

People from the lower economic class (maids, servants, craftsmen) could not resist the temptation for some quick profits and entered the speculative market.