Posts

Crypto Markets.... More Pain to Come...?

avatar of @revise.leo
25
@revise.leo
·
·
0 views
·
2 min read

The phrase 'bear market' has cropped up a lot in my comments over the last week and that is certainly the sentiment in various Discords I am part of too.

And this recent article written for CNBC gives the situation a bit more context...

The general gist is that after the $40 billion crash of Terra, from which there's probably no coming back, there will be a few more weak projects which are going to be flushed out too.... a ripple effect from Terra, lasting for a few weeks or months...

The article also reminds us that we are in some VERY early days of decentralised finance - I mean DEFI has been around for, what, three years?

And it was no doubt at the centre of the last bull-market, now (I think we can all agree) officially over...

But I can't help get the feeling that this depressed sentiment about Crypto is going to be relatively short lived - already pretty much everyone I know and every article I read is talking about 'starting to dollar cost average back in' - already.

Bitcoin already feels cheap, as do many other tokens, and if that's the sentiment it will go some way at least to holding up the floor prices.

And of course there's the fact that I'm certainly NOT SELLING anything for stables at the moment, that would just be insane!

And I honestly don't see too much room for growth in other asset classes outside of crypto....

So maybe probably there will be more pain to come, but I don't think it's going to get that bad?!?

Posted Using LeoFinance Beta