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Need a certain reassurance after looking at Bitcoin fall under $ 80,000 last night?
We managed to go up above this level this morning, but only slightly – at least at the time when I wrote this. I hope I don’t have it Jinx. ETH, on the other hand, retains $ 2,100.
On Empire Roundup this week, the co-host Jason Yanowitz explained his reflections on the current market. For him, there are only three options: the start of the bear, the end of the four -year cycle or a simple decline.
If you have voted for the hindsight, you are right on the money.
“I am very condemned that it is not a lower market. So let me (go) in the file is not a lower market, “he said, which gives it a chance of 20 to 30% that it marks the end of the four-year cycle and about 80% of it is a simple withdrawal.
Yanowitz gave in 2021 as an example, citing the 56% decline that Bitcoin experienced a few years ago.
“ETH lowered 61%, Sol decreased by 67%. And many other things, in the middle of the year – in the middle of what we look back and that we think (from) Peak Bull Market of 2021 – have lowered from 70 to 80%. I just think people are very quick to forget that, “he said.
If Yanowitz is right – and my reports this week are in favor of what he said – then the harsh truth is that withdrawals are hard and inducing anxiety, but they are not eternal.
I know it is a total snapshot at this stage, but the British have really nailed it: stay calm and continue.
And now you know.
A dose of clarity was transmitted to the market last night in the form of a dry declaration on the same. I think, after spending time on it, that I would characterize it as a little mixed bag, although I lean towards optimism.
Let’s start with the good: the dry has really put the Howy test to operate without trial! Huge. I love it for them. This is exactly what the industry wanted to see – and no one had to bring legal action or a foia for this clarity.
If the collector’s language seems familiar, it is because the Crypto Tsar David Sacks seems to have paved the way for this declaration by saying that at the end of January, that the same looked like something more similar to collectibles than the titles.
The SEC commissioner and head of the new working group on the crypto, Hester Peirce, also said that Evencoins does not come under the jurisdiction of the dry in an interview earlier this month.
Why is the new position of the dry a mixed bag? Because it now seems more likely that the industry will have to self -regulate, which means that it is always an open season for even.
The dry does not wash their hands completely, noting that any “fraudulent driving” in relation to the sale or supply of the same is always subject to measures responsible for the law and the pursuit by federal agencies.
But this declaration came at the ideal time: we are starting to see the same naturally slow down, which could indicate a development of the market elsewhere, potentially leaving the media of the same.
My overview is that I think it is normal to let them operate in their own bubble. We do not want memecoins to occupy so much space, but – support me here – I am not sure to see them completely as something similar to baseball cards. However, I really think they are like slot machines or something more in the direction of a shitless penny stock without fundamentals. If people want to put their money there, then leave them. The trick is to ensure that people are well aware of the risks.
Now we just have to hope for a flight to better quality tokens supported by the fundamentals, and BAM, we cook again.
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