In This Issue
- I share my thoughts on the state of the market, Bitcoin fear and greed, UST breaks, dollar cost averaging and PolkaDot cross chain messaging
- Rekt Capital has the latest technical analysis for you on the market.
- Sam has a report for you on borrowing against NFTs
- Defi Dad has a tutorial for you on how to earn up to 51% APR as an ETH LP with IL-protection on Bancor v3
- Jesse has a ton of hot new airdrops for you.
- Hot new token sales.
- Rebecca has all of the latest news for you.
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What’s On My Mind by Lark
<h3 id="the-state-of-the-market“>The State of the Market
Bad. Really bad. Ouch.
Everything is down big time. UST crashed. Luna crashed. Altcoins down another 50%. Bitcoin is down to a new yearly low, in fact the lowest price since January 2021.
BUT we did get a buy signal for Bitcoin. The daily RSI is showing an oversold reading, which is very rare. It maybe happens once a year. Historically this has been a good time to buy.
To be clear, the RSI can become more oversold. Prices can go lower. The RSI can remain oversold for days to weeks.
But this time period represents a good time to stack based on the charts.
THAT BEING SAID, there is zero need to rush things.
There has been an extreme amount of trauma and damage done to the markets this week, and it is still unraveling.
The knock on effects of the implosion of the UST stablecoin will have broad reaching effects that may not become immediately apparent.
I did deploy some capital today to buy Bitcoin, but not a huge amount. I am also largely holding off on any altcoin purchases for the moment.
Sure there are some great “bargains” right now, but the risk remains high until the market stabilizes.
I can happily enter an altcoin position when it is at -85% from ATH when the market starts showing strength versus -90% when the market looks weak.
Bear markets are games of survival. Don’t blow your capital too soon.
Ensure you have enough runway to make it through the hard times without cannibalizing your portfolio.
Pretty soon you will be able to say you survived the bear market of 2022.
Look, we all knew that the crypto market is volatile, and today, it is really showing us that. Having rode these waves before, I can say that yes, it will get better.
But that doesn’t mean that it is not a brutal process.
<h3 id="bitcoin-fear-and-greed “>Bitcoin Fear and Greed
The emotional ballet of the markets continues.
Fear is the new normal.
The sentiment is bad and it keeps getting worse. I am reminded of the ghosts of 2018.
Bear markets are no fun. Most people turn super negative, quit, sell for a huge loss and walk away until the next all time highs.
I understand this may seem like a tempting thing, but the reality is that those who can grind through the bear market will be the best positioned for the next bull run.
Which will come, they always do. The only question is when.
<h3 id="ust-breaks“>UST Breaks
The UST stablecoin, the beating heart of the Terra Ecosystem got absolutely smashed this week….
Hi! My name is Lark Davis!
I’m a cryptocurrency investor with years of experience and I’ve been making consistent profits in the crypto space.
I’m passionate about helping others do the same, so I run multiple educational channels on crypto investing.
