Bitcoin Nears Bear Market… USD soaring… Alibaba Stock Plunges Sparking Fears… “Coming Slowdown,” You Say?

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Alibaba Just Confirmed Investors’ Worst Fears

Panic is never a great attitude to have in investing, but neither is blind optimism. So it’s probably healthy for Alibaba (NYSE:BABA) shareholders not to get too overwhelmed by the ongoing Chinese regulatory crackdown, but also not blindly buy the stock just because it’s down and other famous investors like Charlie Munger are doing so.

Alibaba released its third-quarter earnings report on Thursday, Nov. 18, and the stock plunged over 10% on the news. While the period did encompass a tumultuous summer for the Chinese economy, some figures did seem to confirm the worst fears over Alibaba’s business.

The biggest fear I had amid China’s regulatory crackdown wasn’t necessarily punishing fines or the seizure of Alibaba’s business. Amid all of the ideological uproar, China’s intention seems to be to level the playing field among businesses and create a more equal and competitive society. Those are all worthy goals, but if successful, new regulations could eat away at Alibaba’s competitive advantages.

 

Bitcoin nears bear market territory as it slides almost 20 percent

Bitcoin is approaching bear market territory as the world’s largest cryptocurrency plunged almost 20 percent in less than two weeks.

The crypto was down more than 5 percent Friday morning from a day earlier and was last seen trading at about $56,600 per coin, about 18 percent below its peak of $69,000 reached earlier this month.

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