Good evening everyone. I hope life has been kind to you. It has been kind to me as well except that I have been a bit occupied for the past few days. And I hope to be able to have some time from now on again to write regularly on this platform. And I would like to start off with some of my thoughts and opinions about the market. Yes, I almost always talk about the market because one, it is something I am actively involved in. And two, I am a sucker for informational stuff, such as documentaries, news etc. So I'm almost always going to be talking about something. Some theory or something informational. Very rarely I would talk about normal stuff like life and social media and you know what they say, small talk. No coming back to the market.
Crypto was already between a rock and a hard place. And people who were holding on to different altcoins and praying to the crypto gods for an altseason. Somewhat hopeful that it might arrive in the near future. And right after that October 10th everything got wiped out. The market hasn't really recovered since almost all coins had lost more than 10 and roughly around 20 to 30% of their value during that crash. And most of them have only been able to recover less than half of that amount and after that just a few days ago BTC and other tokens once down again. In fact, as of the time of writing, there is an ongoing uptrend before which BTC was lingering around 100000 flat. Now, my personal belief is that things can actually go better from here. And I have a very philosophical answer to why I think so. First of all, crashes of the stature of October 10th don't happen that often. And almost 100% of the time. It is some catalyst. Once it was FTX, once it was Terra Luna. Which basically meant that the crypto infrastructure was somehow flawed and it would raise genuine questions among investors as to whether the blockchain and cryptocurrency as a whole is actually sustainable or not. But this time nothing like that happened. No exchange went out of business. There is no one big coin that just got rug pulled. There were no elaborate scams or ponzi schemes. Rather it was just a very simple derivatives reset and long position liquidation just on a very large scale.
Now my whole bet is hedging on that one fact. That the inner structure is actually doing just all right. If the infrastructure is in place and the market's numbers got a great cleanse then who is to stop the market from accumulating again and starting fresh? I would love to believe that. And to that end altseason might not be over.
