The massive sellout continues as bad news keeps piling up. Bad news on top of bad news. After the Terra Luna disaster we woke up to the news that Celsius, a crypto exchange, is halting withdrawals and transactions due to 'extreme market conditions'.
It sounds 2008-esque, doesn't it?
The market is bearish. Duh. It's capitulating. Falling faster than Scuderia Ferrari's title-winning chances and plenty of exchanges and projects will fall with a loud bang. Everyone's a genius in a bull run and that's why what happened during 2021 doesn't really matter now. It's what's gonna happen next that matters.
It is going to be very difficult for Celsius to get back up because the trust is gone. Same with Terra Luna.
We've been here before, of course. Many times. Each time it feels like the end of the world but it never is. But it still sucks. And we're still looking around for someone / somebody to blame.
The answer is: random circumstances. The war isn't helping. China's idiotic no-covid policy and Biden's administration's foolish spending aren't helping either.
I'm not happy at the moment. I bet most of you aren't either.
But there's nothing I can do. I guess I can keep buying. The problem is I'm running out of money. Dammit.
I've crossposted this article on Bitcoinea and LeoFinance.