Cryptic ball: because it's the final novel.
Hello, dear readers! First and foremost, my thoughts are with the Ukrainian people, currently facing uncertain and very tough times. Due to crypto, I've made several friends from this great country over the past years, and I've heard first-hand reports on how dire the sad situation is. Secondly, it's good to see that Tuesday's newsletter is still relevant today. What did I tell you then?
That it was all about the Kremlin and, regretfully, that the moment war breaks out tends to coincide with a market bottom, as fear peaks. That's what happened yesterday night and today, both in Europe and in the US. As anticipated, the Nasdaq is bouncing hard and it seems the S&P 500 will hopefully follow, after both faced lower lows, the first time we saw such a bearish omen since March 2020.
Crude oil popped, but seems to be topping and bitcoin has been nicely resilient in face of the stonks bashing. The original cryptoasset is trying to reclaim $36k and, if it succeeds, it would be a strong sign of support here. As the West moves to sanction Russia with more conviction (its stock market fell almost 50% today), markets may find more confidence and this record level of fear will likely fade.
For now, we may still have some days of volatility and I'm not calling a bottom here except for those scalping. If you're swing trading and feel like this is the time to get back in the game, remember you can phase your entries instead of going all in at once. One thing is clear, Putin's end game will result in a trap for Russia and that will be good for global markets. The question is when will that be obvious.
Chart art: because the bots kick in.
Three things: because it's not what your country can do for you.
- Michelle Bailhe asks us to "ask not wen moon - but to ask why moon".
- Sam Bankman-Fried shares his thoughts "on crypto, Ukraine, and stocks"
- Mehdi Farooq shares top resources "to become a better crypto investor".
- Murray Rud updated his Luna price model. Naturally, he is bullish, but I recommend this as a great example of fundamental analysis of a token.
- Nir Kaissar argues the tech sell-off is more of a meltdown than a dip (fortunately crypto is different than unprofitable tech startup stonks).
- Lastly, learn more about FV Bank, B21's sister company, with Miles Paschini's interview on the Bank On It podcast.