This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin - up to $3600 worth. I really encourage you to check them out.Market fear is peaking. Again.The last time we saw fear at these levels was earlier this year when Tesla announced that they were no longer accepting Bitcoin payments. The time before that was the COVID crash in 2020. We are once again at “extreme fear” on the "Crypto Fear & Greed Index," but the narrative this time is unclear. You could make the argument that it’s because of Omicron, tapering, Evergrande, Plan B’s failed prediction, or a combination of the above. Sounds like a weak argument. Frankly, nobody knows exactly why the masses are fearful.The crypto market seems to catch the majority of participants offsides at the most unexpected times possible. If enough people become bearish, we can probably expect Bitcoin to rip, leaving bears wondering what happened and forcing them to buy higher. If enough people still believe that December is ramping up for six figure targets, we can probably expect the dump to continue.Trading based on sentiment is difficult. When you think you are counter-trading the herd, you might actually be in the hidden majority that... thinks they are counter-trading the herd. Trying to beat the market is an uphill battle.The market hates uncertainty, which is what we are experiencing now. When things are uncertain, people tend to to grasp at straws and present ideas as facts, often with a level of conviction that is hard to understand. Making predictions about future prices in financial markets and trading based on them with conviction is dangerous. Nobody has a crystal ball or should believe that anything will definitely happen. We all know by now that predictions about price, news, and how the market will react to said news (Elon’s erratic tweeting, China “banning Bitcoin”) can never be made with any degree of certainty.As I said yesterday and want to reiterate: NONE OF THIS matters if you are an investor. Keep buying. If you are trading or have money that you need at risk, it’s worth paying attention to.In This Issue:Market Jitters Are BackBitcoin Thoughts And AnalysisAltcoin ChartsVitalik's EndgameDogecoin Had A BirthdayMore Than 25% Of US Investors Own BitcoinWhales Bought The DipThe Wolf Of All Streets Podcast Ft. David YermackMy Recommended Platforms And ToolsIF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.CO
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The Wolf Den #386 - Market Jitters Are Back
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This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin - up to $3600 worth. I really encourage you to check them out.Market fear is peaking. Again.The last time we saw fear at these levels was earlier this year when Tesla announced that they were no longer accepting Bitcoin payments. The time before that was the COVID crash in 2020. We are once again at “extreme fear” on the "Crypto Fear & Greed Index," but the narrative this time is unclear. You could make the argument that it’s because of Omicron, tapering, Evergrande, Plan B’s failed prediction, or a combination of the above. Sounds like a weak argument. Frankly, nobody knows exactly why the masses are fearful.The crypto market seems to catch the majority of participants offsides at the most unexpected times possible. If enough people become bearish, we can probably expect Bitcoin to rip, leaving bears wondering what happened and forcing them to buy higher. If enough people still believe that December is ramping up for six figure targets, we can probably expect the dump to continue.Trading based on sentiment is difficult. When you think you are counter-trading the herd, you might actually be in the hidden majority that... thinks they are counter-trading the herd. Trying to beat the market is an uphill battle.The market hates uncertainty, which is what we are experiencing now. When things are uncertain, people tend to to grasp at straws and present ideas as facts, often with a level of conviction that is hard to understand. Making predictions about future prices in financial markets and trading based on them with conviction is dangerous. Nobody has a crystal ball or should believe that anything will definitely happen. We all know by now that predictions about price, news, and how the market will react to said news (Elon’s erratic tweeting, China “banning Bitcoin”) can never be made with any degree of certainty.As I said yesterday and want to reiterate: NONE OF THIS matters if you are an investor. Keep buying. If you are trading or have money that you need at risk, it’s worth paying attention to.In This Issue:Market Jitters Are BackBitcoin Thoughts And AnalysisAltcoin ChartsVitalik's EndgameDogecoin Had A BirthdayMore Than 25% Of US Investors Own BitcoinWhales Bought The DipThe Wolf Of All Streets Podcast Ft. David YermackMy Recommended Platforms And ToolsIF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.CO