The biggest news in this crypto dump isn't that crypto is dumping. The most important news is actually news that's bullish for crypto — the Federal Reserve shut completely down for about 3 hours today. That's right — the bank responsible for creating the world's reserve currency went dead. Bank to bank transfers did not work. Failed transaction. Countless entities couldn't settle transactions across the world.
There's speculation that the Fed shut down to switch some parameters for a digital currency or some technical update. I think the real reason is much simpler. You know how your Metamask fucks up when you put in a number that's too big? Yeah, I think it was more like that. Money Printer Powell just put in a number that was too big into the money printer computer and the fuckin thing just had a tantrum on his stupid ass. XD XD XD
At the same time, something pumped the price of Gamestop significantly (while Tesla and everything else dumped). I think it's extremely bullish to see that the resistance/revolution is still quite active while the traditional means of finance is experiencing a very public shutdown. It's for this reason that I really don't care that crypto is dumping today.
For those of you looking for a dump "reason," don't. Some big guy sold which prompted some other big guy to sell which prompted some liquidation on some exchange which prompted another sell which prompted another liquidiation etc. etc. you see where I'm going with this. There is no single news item that does this. Don't get caught up in trying to find a "reason." Take it from a pro finance writer — the format you see "X-MarketAction-Occurs {As} Y-NewsItem-Takes-Place" is a headline generating math formula, not a truthful statement. Most financial writers you read online are just writers, not financial writers. They are using this format because this format has always been used. They don't know what they're talking about, and as long as they can piece together some string of logic to connect X to Y, they can get published. Why? Because the finance editors don't know what the fuck they're talking about, either.
When it's time for the market to go up, all news is interpreted as bullish and bullish news prevails. Ditto for when it's time for the market to go down. Look less to the news and more to technical analysis — it works very well in crypto. For instance: The NUPL indicator that Ivan on Tech uses is quite useful. A blue NUPL indicates a market top, and it was about to hit blue. If this bull market was to continue following the same patterns as past bull runs, the market had to dump quite handily — and it did.
The fundamentals in none of your favorite projects have changed. So buy the dip and hold til rip. Yield farming is a great way to wait out the bear and dove markets. BSC is getting new projects daily including 1inch and other proven names, which takes 99% of the risk out of high yield farms. If you have the money to go in on presales, I'd get in on Polkadot, Trustswap and DuckDao sales as well to make money.
And I still hate Ivan on Tech, but at least he provided some useful information that actually worked for me unlike fat backwoods hick Bitchboy and that goddamn monkeyshine Elliotrades. Those two jackasses are complete idiots, and in the case of Elliotrades, willfully dishonest, that soyboy cuck piece of shit.
And as for the Fed, it's time for you and everyone who sucks on your teats to go to hell. Burn.
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YOUR GUIDE TO MAKING MONEY IN CRYPTO STARTS HERE ---> Making Money in Crypto Part 1
Always remember:
Burgerswap Bridge will steal your crypto
Deus.Finance is led by a psychotic wannabe despot
AllianceBlock is a shit project
All algorithmic stablecoins (Basis Cash, Mithril, Empty Set Dollar) are a SCAM
Don’t get your bitcoin from PayPal
Trade on BSC, not Ethereum
Ivan on Tech, Elliotrades and Bitboy are complete liars, and
If you are always losing money trading crypto, read here.
Gems I'm investing in:
NFTs - Doki Doki
Trading - Unimex
Finance - Soar
