Hi Stock Gumshoers,
Well, it’s a Crypto panic all right, but not what Teeka was planning (yet). As someone who holds quite a bit of crypto, I have been though a 60% drop before. This time it’s all red again and the drops are even more in some assets. It really is a test of your resilience and separates the believers from the speculators. I’m either really stupid or will feel really smart a few years from now when Web 3.0 is gaining momentum replacing the web as we know it now.

I have quite a few subscriptions..and the advice is really all over the place. Empire Financial research says to sell all crypto..just like in 2017 when it “crashed” ..but we know that yes..if you do zoom out…Bitcoin and ETH is still up (a LOT) regardless of “crashes”. Palm Beach Research says..hold the line, we’ve been here before..either do nothing, or buy.. In the end..you need to go with your own conviction….do you really believe in the future of decentralized applications and that ETH and associated D apps will replace current Internet, and what’s your time horizon? Is Bitcoin a hedge against inflation..not if you bought in the last year.. I am holding through the carnage and might buy some more…it’s interesting to note that SHOP (down 78% last 6 months) and other tech stocks are down wildly too…so crypto is behaving like tech stocks and some tech stocks like crypto…the damn Whales? In the end, might it just be the mind of humanity that is having a melt down. Usually after an emotional melt down..you feel better and see things in a different light. I know that one of my assets (The Graph) is controlled by a handful of holders..and the price is down so much that it does feel a bit like a “pump and dump”. Many large Bitcoin Whales have apparently exited so the ratio of institutional holders to retail holders is now lower…then there is Microstrategy which own $4 billion in Bitcoin and if it falls below $21,000 will face a margin call ($400 million+),,and they will cover this by selling enough Bitcoin (that is not backing the loan) to cover..more pressure on Bitcoin, maybe more so in emotional responses……on the other hand, El Salvador just bought the Bitcoin dip again…there just seems to be too much invested in BTC for it to completely implode. Or, maybe it is just another part of the massive wealth transfer and a sophisticated “money laundering” scheme by the elitists. Anyway, hope everyone stays calm in this rollercoaster, and we all survive the carnage.

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