Hi Readers
How wonderful are these markets at the present time. Such massive volatility but you already knew this was the case with the Mars Retrograde.
Yesterday we mentioned that those born who will be affected by the Lunar Eclipse to be extremely care.
Today we find out that the FTX exchange was acquire by Binance for $600 million.
So where did the $15 billion go ? yep crypto market correction has whipped out the owner Sam Bankman out. While many aren't aware he actually stepped in to save the crypto market in April but wasn't able to disperse the debt from his books which the loaned out.
Anyway it is what it is and yes the Sam was born 6th March 1992.
So the all our Crypto readers please don't try and be hero's.
The Bitcoin market is going down and so to are the alt coins also.
Stay in cash and wait until next year when an opportunity will present itself.
Don't be fooled by myths that are saying that the market will bounce, no it won't.
Can you imagine if Microstrategy is margin called, Bitcoin could loose $10k in a day and the alt coins could loose 90%of there value.
So be smart stay in cash and wait. yes your loosing on inflation but the crypto market could drop another 70% from here.
Yes a $20k bitcoin is better than a $50k bitcoin but a $5-10K bitcoin is better.
So lets be prudent and just wait.
Yes even Eth could drop to $200
When market is plentiful then Crypto's will run, but in a tightening period where money is being sucked out and destroyed there is no chance.
Its the same with property when banks have light lending standards even monkeys can get loans. But the minute the banks demand 25% down payment property will go to shit.
There aren't too many smart people around to be able to research whats really going in. 90% if not more just listen to daily news without understand the magnitude.
This post is for educational purposes.
Seek professional advise on the above.