Source: Dreamstime
The markets are flashing red. Every single green candle is followed by a red candle typical of a sideways market. Sentiment is in the gutter at the moment.
It doesn't look good bruv!
I am struggling to see the light at the end of the tunnel, at least in the short-term.
Why?
Simple! People invest in crypto and in other traditional investment vehicles when they have spare or excess cash. Everything that has been happening for the past few months indicates we are in a recession.
When you incorporate the energy crisis being caused by the posturing by the big boys, you can only see a bleak
In my country we have a saying that losely translates to, "When two bulls fight, it is the grass that get destroyed".
This is exactly what we are seeing playing out. With the recent damage to Nord Stream, this all but confirms difficult days ahead for the EU this winter.
With high energy bills, weakening currencies and inflation biting, incomes are getting significantly depleted.
The question is, how will this affect crypto.
Crypto assets are in a pool of low hanging fruit which people can dump to bolster their incomes towards the end of the year. Couple that with the usual sell-off that comes in the fourth quarter (possibly for holidaying budgets) chances are we haven't hit the bottom.
It is times like these you tend to appreciate the Hive ecosystem and its many viable second-layer tokens, which you can spend the time accumulating in this difficult period.
'Tis the buidling season after all!
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