26th February
Big dump continuing. Lots of fear around.
Interesting
Tether has stopped printing
Michael Burry is making the point that the bull run has been built on tether printing money. Tether needs to find $35 billion. If it doesn’t, then the market will fall just as fast as it has risen.
Chico is reconsidering the market, and when to take profits.
So should I.
Ultimately, this could be a new paradigm, but it could also fall on its face, at least in the short term.
Many people thought that during the last bull run, the price would continue to 100K. It fell at 20K. That’s not to say that the same thing will repeat itself. It just means that the “reality” of the situation last time seemed different than it actually played out. Those who were cautious, and took profits on the way up, these people benefitted from the bullrun.
Those people, on the other hand, who sought to maximise profits, and rinse every single ounce of profit out of it, found that they lost everything to get that last cent.
The simple fact of it is, I will have to walk away from getting more money. I will have to walk away from profits. I must walk away from profits.
I will have to click sell, as the green candle emerges. I will have to forgo making thousands.
But let’s not forget. A bird in the hand is worth two in the bush. I could make thousands more in unrealised profits, but even if I made that money, I would still be left with the decision that confronts me. Making more money isn’t going to solve that problem, only prolong it.
And let’s not forget, I can always jump back in.
And further more, if things have pumped a lot, to the point where fear and greed is 90+ and warning signs start to appear, what is the risk/reward here?
Usually, it is in favour of pulling out.
Gary V is bullish on RTFKT thing NFTs.
Digital clothing? Really?
Yeah. It appears that metaverses will be way way bigger than just video games soon.
They will incorporate all parts of the current economy, and add others. People will essentially attempt to recreate the real world, but “better”, in the metaverse.
Energy Web Staking is coming
And Energy Web has probably the most high profile partnerships in the whole crypto space. And it’s likely partnered with Square to make bitcoin green. That’s big news, and the hype will draw attention to its high-profile parternships/ecosystem, and people will finally take it seriously, because it pumped.
It feels like people will doubt a coin that is staring them blue in the face, simply because there isn’t a big green candle to tell them what to do. It’s better to ask, “what’s the rumour?”, and trade it. Right now, the rumour is Energy Web.
And as Chico says, there are very few “safe bets” in crypto, but this is one of them.
The only fear?
I had said I was going to allocate that money towards insulating myself against possible hyperinflation.
There is a new democrat stimulus package coming in. This could pump the price of BTC.
End result:
I’ve hedged, 50, 50, BTC and EWT. We’ll see how things play out.
