Majority coping that this is like summer '21 lows, not taking into account many salient variables, both in & out of crypto
There's few domino effect issues currently within the space;
- UST & Luna
- Saylor
- Underwater institutions & funds
- Shitcoins still long way from bottom
There's few domino effect issues currently within the space;
- UST & Luna
- Saylor
- Underwater institutions & funds
- Shitcoins still long way from bottom
But also outside of our little beloved bubble;
Correlation with traditional markets is only strengthening, and with lack of crypto narrative [for now], I don't see the cursed "D" word occuring anytime soon.
QT has merely begun and there's no talks of QE until atleast Q2 2023.
Correlation with traditional markets is only strengthening, and with lack of crypto narrative [for now], I don't see the cursed "D" word occuring anytime soon.
QT has merely begun and there's no talks of QE until atleast Q2 2023.
Bitcoin as an individual asset since its inception has never faced stagflation & critical-international conflict & extreme inflation.
It has also never faced such internal issues as presented above, with institutions, countries, funds being potentially underwater/margin-called.
It has also never faced such internal issues as presented above, with institutions, countries, funds being potentially underwater/margin-called.
"30k is generational support"
Two times 30k has proven to absorb pressure; once during peak bull-euphoria, the second time after a punishment for overleveraged market.
Both those times, equities were rallying, dollar was calm and there were no rate hikes.
How about now?
Two times 30k has proven to absorb pressure; once during peak bull-euphoria, the second time after a punishment for overleveraged market.
Both those times, equities were rallying, dollar was calm and there were no rate hikes.
How about now?
Lets get back to my dominos.
Surely all aformentioned variables can't occur; UST, Saylor, institutions, funds, even a bloody country at this point?
"The rich people will defend their positions".
That's a valid point and something that could bottom the market.
Unfortunately;
Surely all aformentioned variables can't occur; UST, Saylor, institutions, funds, even a bloody country at this point?
"The rich people will defend their positions".
That's a valid point and something that could bottom the market.
Unfortunately;
All these variables conveniently occur in the 20-30k region where damage for El Salvador & institutions/funds gets too high, market takes Luna to goblintown [UST shitfest occuring right infront of our eyes].
Saylor is getting the doom call at ~21k I believe?
Where did Musk buy?
Saylor is getting the doom call at ~21k I believe?
Where did Musk buy?
Whilst these powerhouses could infact form a bottom defending their positions, even adding more, famous bear market memeline 'support' 200WMA is also in the vicinity & retail 20k bids getting frontran for max pain; you have to ponder the question;
What about macro & equities?
What about macro & equities?
It's bad. Learning & consistently talking to macro experts; it's really fucking bad.
High conviction that the lows for equities are far from in.
Judging by a lot, it's worse than 70s and 2000s, yet we're merely 17% off the highs? QT has just begun, and you think lows are in?
High conviction that the lows for equities are far from in.
Judging by a lot, it's worse than 70s and 2000s, yet we're merely 17% off the highs? QT has just begun, and you think lows are in?
Now, does that put a different perspective to my domino analogy?
Could the macro be leading factor that cascades the aformentioned flaws and ticking bombs within the crypto sector?
Crypto suddenly resisting macro issues would make me bullish again; but until then, goblintown.
Could the macro be leading factor that cascades the aformentioned flaws and ticking bombs within the crypto sector?
Crypto suddenly resisting macro issues would make me bullish again; but until then, goblintown.
Looking at the history & being around since early 2018, observing the sentiment, but also doing my due dilligence, researching 2013-2017 indepth;
Crypto has a way to make 95% of people believe it's 'truly dead this time'.
Only that way it can truly heal from its own bullshit.
Crypto has a way to make 95% of people believe it's 'truly dead this time'.
Only that way it can truly heal from its own bullshit.
"This time is different, we have an actual use-case, even countries are adopting it, DeFi, L1, Meta, NFT"
No. Infact, we're still early. Everything is still overinflated unsustainable ponzi with no actual real-life usecase.
Nayib Bukele 'degening' nations funds wont change that
No. Infact, we're still early. Everything is still overinflated unsustainable ponzi with no actual real-life usecase.
Nayib Bukele 'degening' nations funds wont change that
Deep inside, you know it's true.
Speculative ponzi with ghost-chains, unsustainable games & protocols masked as "future of finance".
The only thing slightly useful are yields, avatars and obviously, transactions.
In retrospect, not much, innit?
But that isn't necessarily bad;
Speculative ponzi with ghost-chains, unsustainable games & protocols masked as "future of finance".
The only thing slightly useful are yields, avatars and obviously, transactions.
In retrospect, not much, innit?
But that isn't necessarily bad;
Capital deployed into crypto space has been on an uptrend since 2017, development is ever-growing despite the lack of retail participation & gloomy price action.
Everything is running its course towards major global adoption within a decade or two, but wipeouts are needed.
Everything is running its course towards major global adoption within a decade or two, but wipeouts are needed.
Writing this for fun, I come to realisation I actually have an audience now.
Everyone [including myself] telling you to 'survive', whilst at the same time you're bombarded with "institutions/whales buying your coins, have fun staying poor" sentiment.
So which one is it?
Everyone [including myself] telling you to 'survive', whilst at the same time you're bombarded with "institutions/whales buying your coins, have fun staying poor" sentiment.
So which one is it?
No one knows, but I can tell you one thing;
For every success story in crypto there's hundreds of failed attempts, emptied bank accounts and ruined futures [no, not those 'futures' 🙄- but they certainly don't help either]
Collect the data, study, improve - or don't play at all
For every success story in crypto there's hundreds of failed attempts, emptied bank accounts and ruined futures [no, not those 'futures' 🙄- but they certainly don't help either]
Collect the data, study, improve - or don't play at all
You will have to work hard, observe, build a system & plan, develop conviction or you will be left behind by the evergrowing talent that's pouring into this space.
Stories of people getting lucky on a shitcoin are just that; luck.
But luck can and will strike you if you grind.
Stories of people getting lucky on a shitcoin are just that; luck.
But luck can and will strike you if you grind.
Crypto, for me, is slowly but surely integrating itself into the world. Crowded, bumpy, but a revolutionary path.
In order to get there, it's merciless, unforgiving, ruthless; it takes no prisoners. Not even billionaires, funds, institutions are safe.
Not even countries.
In order to get there, it's merciless, unforgiving, ruthless; it takes no prisoners. Not even billionaires, funds, institutions are safe.
Not even countries.
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