Good Morning!

Are we all ready for a volatile weekend of trading?

I have the feeling that this fake breakout might spark some volatility on Saturday and Sunday.

Tweets from heads of state could increase the volatility of Bitcoin

As far as the traditional markets are concerned, I think we might be seeing some "surprising" tweets from "certain" state leaders. These will serve to increase the volatility of bitcoin.

From a short to medium-term market outlook, we are still looking for another leg lower in equities and the bond markets. This especially applies to the corporate bond space.

Imminent mortgage defaults could put 2008 in the shade

Additionally, Bloomberg has run a story saying that we will see mortgage defaults like we have never seen before. Read more about it here: Mortgage Default Could Pile Up at Pace That Dwarfs 2008.

Arbeitslosenzahlen in den USA auf einem neuen Rekordhoch

And don't forget the skyrocketing unemployment rates in the US, which do not look like they will flatten anytime soon.

The mammoth US unemployment claims in their historical context. pic.twitter.com/UNDwhBMpZt
— Ben Riley-Smith (@benrileysmith) April 2, 2020

If we see some of the above topics triggered further, it will affect bitcoin. The extent of which, however, is very hard to predict. I will be keeping a close eye on gold and the inflation expectation indicators over the course of the next few weeks. Bitcoin needs to show a higher correlation with gold and inflation in order to regain some safe haven attributes.