At this point in the movie, many must be wondering if there is any really safe "Safe Heaven" apart from BITCOIN and a few other Crypto such as HIVE and HBD.
The events that occurred during this long BEAR Market have been nothing more than a test of resistance of the entire crypto system and although there are many projects that have gone to zero, basically due to their lack of fundamentals, BITCOIN continues to hold up like a champion despite all the disasters that occurred in the market.
Surely we still need some other pending disaster to experience, we are not going to deny it, the FTX problem is still dragging a lot of tail, the global crisis may worsen during this year but, despite everything that is happening, I think that In short, all this has served to clean up a lot of shit that we had been accumulating since the previous cycle.
Every 4 years we see the same cycle repeating itself over and over again, a phase of creation and another of destruction and cleaning that leads to the generation of more BITCOINERS along the way... The only thing that changes are the sources that cause the damage and the order of magnitude from the market, but the end result always seems to be the same, that is, a higher starting floor each time and a more established adoption.
Apart from the tail of FTX, ETH & POLKADOT unstaking release and possible collateral damage caused by the failure of other banks exposed to SVB, we still have to overcome a war in Central Europe still far from being resolved, runaway inflation and, in a near future, the deployment of CBDC by central banks that could further damage the cryptoverse.
At the moment, in just 48 hours, BITCOIN seems to have recovered everything lost due to the collapses of Signature, Silvergate and Silicon Valley... We return to the starting point, $25200 is our level to break to declare a market change, It seems that it is going to cost a bit but I feel in my guts that we are going to win this battle too.
High interest rates starting to punish over-leveraged banks. More to come... or they'll beging to lower the rates again. That will push Bitcin big time.
I hope I've learned my lesson for this cycle.
I’m sure we do
Looking good indeed. Don’t think we slice through the 25k in one go though.
Yeah,
It feels like a great Monday in the markets.
Had forgotten how nice it is to see a strong spike like today.
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Yay! 🤗
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