0
0
This post is not about stating facts regarding the constant reminders of today's bad news -- albeit in any case where either euphoria or depression took place. It's knowing that the currents in the markets could suddenly change on a dime with the investors getting caught off-guard. And it seems like so far, it is showing an indication that the bears are enjoying this downturn too much that as long as there are constant reports on the global economy shitting the bed, it is without any doubt that all risk assets are going lower.
Now why do I feel this way? Take a moment to reflect back last November, especially at a time where everyone was expecting a blow-off top after a Spot Bitcoin ETF was going to be approved in the U.S. Guess what happened then. It failed after the SEC axed all possible applications for a single one. The bull cycle ended soon after when more long positions liquidated, several firms sunk after many major bank runs (Celsius, anyone?) and a notable stablecoin became insolvent. All of this couldn't be any worse without Fed's Powell spoiling the party.
Understandably, it is not to suggest that this bear cycle is almost over. In fact, no one has a clue. But it is going to come at a time that their glory days of trading as a short trader are going to be numbered. Who knows? Their expectations of a sub $10k would be their own $100k pipe dream fulfilled. That is until eventually it's not.
0
0
Manage all your crypto, NFT and DeFi from one placeSecurely connect the portfolio you’re using to start.
0
0
