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AskLeo - Is The Bottom In?

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Adrian
@acesontop
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2 min read

I guess it's about time we call this a bear market in crypto. I have personally refused to believe for good months that $69,000 was the top, but that might be the case after all. Who knows, we might have a smoother bear markets as well, if the top wasn't the usual blow off one we've been accustomed with.

I personally have had a really bad trade today. A matter of fact the trade isn't closed yet, but I doubt the LUNA that I bought a few hours ago will get back to my entry price of $31 any time soon.

What can I say, I'm almost five years in crypto and still a noob... I was looking a few minutes ago on the S&P500 and the chart over there doesn't look good either. That means we haven't decoupled from traditional markets yet, the thing that @taskmaster4450 has underlined in a video yesterday.

Bitcoin is currently a few bucks under $30,000 and it's been quite volatile today, like the rest of the market, and my take is that the whole LUNA situation has had its impact on the price of BTC as well.

From what I read on twitter today it seems that "the man in charge" at Terra has had a closed doors deal with with Blackrock selling some BTC from LUNA's treasury to Blackrock which has than dumped them which has caused the BTC and LUNA dump. I guess the elites wanted to show us how easy going crypto people are and how manipulable the crypto markets are.

The question that bothers my mind now is: have we bottomed? Is $29,000 the new $3k? Well, some part of me wished that this could be true, but I don't believe entirely that we have bottomed yet. We might be in for some more downtrend and the way I see it, the sooner we bleed further, the better.

Now that I fucked up my portfolio in quite a style I guess it would be time I should start building myself a HIVE portfolio. At least this one is a project that I truly believe in and trust. My living depends on this thing and somehow I would need to sell some tokens, but it feels more comforting spending some of my savings for a few months and stacking HIVE rather than cashing them out and wasting "crypto money" on bad trades like I did today.

What do you think, by the way, is the bottom in?

Thanks for attention, Adrian

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