Monthly Crypto Alpha Report – November 2022
Market Roundup
This has been one of the most difficult months that I can remember since the March 2020 Covid Crash, and the December 2018 Hash War that sent Bitcoin to 3K. Make no mistake, what we just witnessed with FTX is rare, painful, and will leave a lasting scar on the industry as a whole.
That being said throughout all of this crisis Bitcoin kept making blocks, Ethereum smart contracts kept working just fine, and defi hummed right along. Crypto is not broken. Crypto works great… most of the time. Sadly the centralized fraudsters at companies like FTX have hurt so many people.
This month also saw a record decline of Bitcoin on exchanges with over 172,000 BTC taken off of exchanges and moved to wallets. This is a good trend for people taking charge of their money. The way crypto is supposed to be.
We also had the 4th biggest day for realized losses. The June collapse was bigger, as was the April LUNA meltdown, and the 2021 collapse.
BUT, I think the reason for this is that so many have already capitulated and left. And, no BS, this shit is hard. Investing will smack you down again and again. But, it is also true that bear markets are the time to be investing. The risk-reward factor now versus November 2021 is dramatically different. Caution is required, but long-term thinking now has a good potential of paying off.
Also, Bitcoin has crossed under the 0.6 mark on the realized value chart for the third time in its history. The last two times? December 2018, and January 2015. AKA the market bottoms.
Interesting food for thought. But, keep in mind that so many models have been broken, we must maintain a little bit of skepticism. That being said so often people are overly bearish near bottoms in just the same way they are overly bullish near tops.
Top Airdrops of the Month
Top Altcoins to Watch
Top NFT Mints of the Month
Best DeFi Farm of the Month
Final Thoughts
We have just survived some crazy shit.
The contagion effects are likely not done either. With recessions setting in around the globe, layoffs rising, inflation stubbornly high, and uncertainty around oil prices post-Russian price cap, I still feel like this is a time for caution.
We could still get a few surprises end of year, and into early 2023.
All the best,
Lark
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Legal Disclaimer
TCL Publishing ltd (director Lark Davis, owner of Wealth Mastery) is not providing you individually tailored investment advice. Nor is TCL Publishing registered to provide investment advice, is not a financial adviser, and is not a broker-dealer. The material provided is for educational purposes only. TCL Publishing is not responsible for any gains or losses that result from your cryptocurrency investments. Investing in cryptocurrency involves a high degree of risk and should be considered only by persons who can afford to sustain a loss of their entire investment. Investors should consult their financial adviser before investing in cryptocurrency.
You can find a full disclosure of all my crypto & venture investments here.
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