Here we go…This Thursday july 27th at 1pm cst onyx authenticated @Onyx_Authentic will be breaking a case of 2023 Vintage Baseball. We are giving away 12 spots right here! Each spot will contain an on card auto hit!
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Ray Bradbury left us 11 years ago today. Hear @neilhimself read "The Man Who Forgot Ray Bradbury" – his lovely present for Bradbury's 91st and final birthday https://t.co/FGI2QihufW
“Ideas, written ideas, are special. They are the way we transmit our stories… If we lose them, we lose our shared history. We lose much of what makes us human.”
@neilhimself on the legacy of Ray Bradbury, who died 11 years ago today https://t.co/QsPRfKaaZT
Investors Perspective in Crypto Markets Follows History
I’ve seen many people suggesting that we’ll see Bitcoin drop to $12,000 and altcoins to have another capitulation. I don’t think we’ll have that and in this post I’ll explain why. 👇
Altcoin investors are slowly losing faith in the markets, as the markets are still not moving at all. As a matter of fact, the markets have been trending downwards since May 2021 for most altcoins, through which the bear market has already lasted for more than two years.
The longest existing bear market for cryptocurrencies.
That’s not strange. In 2022, a lot of attacks took place within the blockchain ecosystem, through which governments are stepping in with a regulatory framework where governments want to protect investors. Understandable, but it’s putting a threat on the survival of the entire crypto ecosystem. SEC suing Binance, DoJ investigating Binance, while on the other hand TradFi jumps in through ETF proposals and even an exchange of their own, EDX.
What does that tell us? To me, some confirmations are clearly provided. First of all, sentiment on social media is derived from past history. Most vocal accounts are people who have endured their first bear cycle and have stepped into the markets during 2021. For them, slowly losing their money feels extremely painful and they’ll only expect further continuation of their portfolio value. Why? Well, they’ve solely experienced that, and people predict their future based on historical data.
It’s comparable to the real estate markets. If the real estate markets have been going up for forty years straight, people will tell you on the streets and at birthdays that it’s a wise decision to buy your own property. Will history repeat itself in that case? Well, it doesn’t have to. Every moment in time provides a new trade or investment opportunity including specific risks and rewards. If real estate has been going up straight for forty years in a row, it doesn’t mean that it will continue to do so.
The same principle applies to crypto and altcoins. Most of them have been trending downwards for 18-24 months straight. Bitcoin pairs are on cycle lows, sentiment is on the ground, but that doesn’t mean that we’ll need to continue moving downwards from here. Bitcoin’s price is slowly crawling upwards from Bitcoin at $15K, after a period of severe attacks on the markets.
Price capitulation, referring to the Wall St. Cheat Sheet, took place in May 2022, as Luna collapsed. Since then, Bitcoin’s price has been consolidating between $15-25K for a year straight, resulting in the accumulation of a lifetime. Yet, Binance is getting sued a month ago and within days, Blackrock, Valkyrie, Invesco and more apply for a Bitcoin ETF.
Those big institutions have used the period prior to accumulating their positions. Once a news item comes out, they’re not going to make their move after, they’ve made their move prior already. What if FTX was taken down by those institutions as they want to get their market share?
All-in all, we’re in the second stage of capitulation, which is time. This is the boring stage of the cycle, where you might feel like nothing is happening in the markets at all and you should move towards other markets rather than crypto.
I can tell you, be patient, enjoy the fact that you’re still in the markets, accumulate your positions and make sure to understand the Wall St. Cheat sheet. The big institutions are jumping in, and the wisest thing you can do is to follow them.
After the Depression comes Disbelief and that can only start with people believing the markets to have more lows to come, just like the markets expected Bitcoin to hit $2K in 2019.
If you do enjoy these long reads, please like & retweet!
While we work on new products and programs for our community, Azuki Love Island Season 3 (BEANZ) is upon us.
I wanted to share notes on what ALI means to me as Head of Community.
Commission for @Sanza_eth
⛩️ Azuki #8615
thxxx 🙏
i drew his real life shorts and dog. do you remember in which of his images these shorts show up?😉
#IKZ#AzukiArt#Beanz#Azuki