The Crypto Market Wakes Up! What's Next?

By BitcoinGordon | BitcoinGordon | 1 Mar 2022

It's nice when that special, rare moment happens. There are very few surprises in crypto that are a pleasant surprise, but when it happens, it's glorious.

Now, technically, we're essentially trying to gain ground back from about 15 days ago, so it seems like a much bigger leap, perhaps, than it is. But, a leap nonetheless!

It takes a great deal more economic pressure for NGU than it does for it to sell off. With the fear that has been in all markets, wondering what Monday open was going to look like, a solid 20% drop wouldn't have surprised me at all. Gordon would have taken a portion of his humble available funds and chosen plateau's on the way down to enter. But, instead, pretty much all of the market hit the "shazaam" button all at once!

Of course, most strong alts re-balance to what Bitcoin does, since they all trade against stables and Bitcoin, while Bitcoin only trades against stables and fiat. But, if there is too much fear in the market, then people will tend to sit out smaller projects until they feel certain it's safe to come out and play. So, often a big move in Bitcoin and other top-10s will actually push smaller coins down, in the same manner that big sell-offs push them down by alignment.

So, today is a doubly-good green candle day for most folks. The HODL bags may run deeper for some, depending on how long they've been holding out. The last time Bitcoin was around the low-mid-40s, a lot of the top 100 alts were about 20-25% down, so the fact that some are popping in the 13-25% range means it could still be a little bit further for people to see profit or at least get rescued from bad positions a couple of weeks back.

The bigger story, in my opinion, is that Monday was not a dark-cloud, Russia/Ukraine Monday of doom and gloom. As I watch where the market is while I'm typing, it still looks like it is gently averaging its way up to the peak of the day's high. For months and months, this has been a rare thing to see momentum continue even for longer than an hour or two before a bit of a peak settles into its real averaging position.

I see a lot of people talking about a massive dump on Tuesday, and who knows? I sure don't. Maybe they're right. I don't like to guess things that are manipulated if they happen, and spreading fear is much like shilling news.

What I will say, is that I do not think that the "up" we've just seen is a sudden surge of people opting out of banks into crypto. That will be much bigger, longer, and more extreme. This happened in a few coordinated well-timed moves. If I'm wrong, and I'm super happy to be so, we'll see only small rest areas on the way up. I'm super happy, if the shorts get rekt, shaken out, and a few people who never learn their lesson... learn their lesson. I don't like anyone to lose money, but if shorting and leverage are your game, that's exactly what it is; a game. Gambling is something you do for entertainment. Crypto is a sector where you should only be investing or trading, or both, if you are confident in the assets you are working with. Shorting as a hedge against obvious pullbacks makes sense, but those counting on the demise of strong assets: there's only one good thing to happen for those scenarios, and that is for them to learn not to do it again in the future.

So, cheers for those who enjoyed a day of optimism!

Tomorrow? Maybe it's that wacked out never-ending bottom. At least it falls from a higher place- lol.

And on that note, Crypto Gordon Freeman... for now... out.


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Hi! I'm Gordon Freeman (I hear they made a likeness of me in some video game... totally unrelated... or...).


Welcome! This is my blog for all things crypto, from my day trading and tutorials to general crypto news.

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