Such Important Markets and Projects
Cryptic ball: be safe...
The total cryptoasset market cap has remained stagnant for the past 24 hours. The lack of volatility, which is at a 14-months low - as you can see in today's visual block - suggests a lack of investment interest. After all, the tales of quick riches are what attracts many to crypto. And volatility tends to go hand in hand with the pumps behind those tales. Fortunately, these boring doldrums are also pushing bears away, who keep uninterested in driving prices lower - at least for now.
However, the S&P 500 continues falling, and is about to print a lower low, the first since September and a sign that the trend is also changing in the most important equities index in the world. Nasdaq, a better proxy for more risky tech stocks, is already entering a worrisome territory. As yesterday's title hinted, even Goldman Sachs missed its earnings and is down +13% over the past five trading days. Now, let's see if Netflix's earnings, which come out tomorrow and are the first between FANG stocks (Facebook, Amazon, and Google), are within the expectations.
All-in-all, this uncertainty is prompting many to call for an unexpected event that could crash financial markets further. But those same people are noting how crypto is resilient and how BTC isn't falling. However, it's important to remind you that if things go sour in TradFi, DeFi will still be affected - so don't smoke much of that hopium. Nevertheless, also note that bounces are formed with the kind of fear we're currently experiencing. Just consider that this fear from the elites can get out of hand and turn into mass hysteria if something triggers financial panic.
Meanwhile, if you need to get a kick from trading, you should first remember trading shouldn't elicit strong emotions. Secondly, consider following the "SimpDAO" trend online! I was dismissing it for a while, thinking it was just a fad born out of bored and excited males on Twitter and some clever models. But I agree with Eric (not Erica) Wall, who argues these DAOs will thrive and become powerful gateways to the decentralised economy. It's all about sex, right?
Visual block: ... when the volatility resumes.
Three things: watch out...
- If you're a scroller, don't miss Eric Wall's thoughts about SimpDAOs.
- If you're not a Simper, catch up with IreneDao's background story.
- If you're a debater, check Packy McCormick's whip of the Web3 Debate.
Tweet tip: ... for that CT hopium.
Meme moment: ...unless this is just change.
B21 App: safe and convenient.
Get started: download the B21 Crypto app!
