Hi readers
Hope your all well.
The last couple of days of been having it out with crypto people who want crypto to be regulated.
While I fully understand there reasons why I totally DISAGREE.
For those of you who want a regulated market please stay in stocks and stop your nagging about whats happening. You lost your money because you are sheep and need to be slaughtered, while that might seem harsh really it isn't, and I'll explain why.
Decentralized means the onus is on you, to make the decisions to either invest or not to invest in projects.
If you obtain your information from You tubers or getting tips of people without doing your own research to see if its right for you then you deserve to loose your money.
Risk/Reward means just that, your risking your money to make money. No one in crypto said that every project is a guaranteed success, whether you bought it now or 2 years ago. The 2X or the 10X is the reward for people who put the work in to find out about projects spend the time to see if its viable and then make the investment. It's impossible for plumbers or Telstra linesman to be able to pick coins which 5X and think there smart. Its called luck and when there is bullshit money floating around everyone is a genius. It's when the shit hits the fan things aren't going right that you see who you really are. Luck is expected in a bull market, throw a dart and invest but not in a bear market.
So whats happened! Exchanges have transformed from what they originally started out,and becoming financial institutions. Most have taken the playbook of what central banks do leverage to the extreme in the hope they keep the illusion of growth going. Crypto did 20 times while central banks are doing it 100 times.
So as I've told you all before 90% of the crypto' coins don't make money, not a cent so they have a value on trust. USDT,ETH,USDC,BUSD,XRP,ADA,and DOGE are in the top 10 crypto's who don't make a cent yet have a combine value of $330 billion. So if your investing in them your investing in trust.
The staple coins do they have the backing ? I know for a fact that tether doesn't. Do the others ? you will have to do your own research on them. Can they all go belly up ? Yes they can.
FTT went from $30 billion to now worth nothing so don't be of the opinion that because there in the top 10 or 20 coins there safe there NOT.
Big rewards come with high risk and that's the game called crypto. No one is licensed so anything goes the responsibility is on you. So please enough with the bitch and if you cant accept it then stay in the stock market with the 5-7% returns, and leave crypto to the people who want it to stay deregulated.
There are more lows coming with further coins and projects which are not viable will be culled. It's very healthy and that's how a market should work where shit gets kicked out and new projects will come.
The coins that survive this purge will be much stronger moving forward.
Don 't see a low until 2023 March-May somewhere there we will see a low. Will it stay there of will it bounce back up? I think it be a slow grind down until then and then a massive purge with billions leaving projects which are just shit.
After that you want to set a plan up and start accumulating for a good year and a half because after 2024 December. The wheels will turn very quickly and you might not get a chance to jump on board.
This is what my financial astrology is showing so until then just sit tight.
As long as you have money your in the box seat. Money always has a seat in the market.
