Hey Everyone,
After Luna melted down last week and everyone was terrified about how low the markets would go things are stabilizing some. I'm not saying the entire Market turns around now, and there might still be more downside, but I'm not really expecting to see another violent drop.
The fear/greed ratio has gone from 8 to 14, and it's been widely reported that the Luna Team sold 80k Bitcoin attempting to bail out UST. However, I didn't really see anyone verify that.
So, here we are after the dump and the fear is starting to subside, what happens next? Almost all the reports I've read have been to the bear side and more down is in store.
I say it all the time, I'm more of a holder than a trader, but I did move a little into USD as a protection against the bear.
With all that being said, we are seeing a lot of Global Bitcoin Adoption and I still strongly believe that Bitcoin and some of the stronger cryptos such as ETH, Hive, and some others that actually have some adoption and a use case will fully come back and experience higher lows than the last cycle.
All finances have cycles and lows and highs, but in the end it is the volatility that keeps it fun and interesting.
This is a great time to build your stake and also support your favorite projects.
It's also a good time to re-evaluate your bags and see what you want to keep.
I have no special skills or knowledge about the future of crypto and Bitcoin, so this post is more of a report from a perspective than anything you should allow to influence your crypto activities
