According to CryptoMichNL, the Nikkei Index experienced a significant drop on Black Monday in 1987 but quickly rebounded and enjoyed two more years of growth before Japan faced a major crisis. He suggests a similar pattern might occur in the U.S. markets, making him confident in maintaining long positions in cryptocurrency.

According to @CryptoMichNL, Japan is experiencing its worst market correction since Black Monday in 1987, with a 9% drop. This turmoil has also affected the cryptocurrency market, causing Bitcoin and other cryptocurrencies to enter a state of capitulation, with overnight drops ranging from 10% to 18%.

According to @CryptoMichNL, there has been a significant stock market crash in Japan, the largest since Black Monday in 1987. This has led to a cascade in yields and the U.S. Dollar Index (DXY), coinciding with weakening labor markets. A September rate cut by the Federal Reserve is now seen as certain, leading to an expansion in the liquidity cycle. The U.S. economy is facing substantial trouble, which could have broad implications for cryptocurrency markets.