"It is well enough that people of the nation do not understand the banking and monetary system, for if they did, I believe there would be a revolution by tomorrow morning".
Henry Ford
There are certain individuals in crypto who believe that the current interest rate hikes that The Fed is currently indulging in are designed to "crash crypto". How would that be possible is beyond my understanding, but I sure know that the rising interest rates that we've seen for the past few good months are surely crashing the banks and creating a debt crisis.
I personally know a few individuals in Romania who've seen their mortgages double over the past few months(probably less than a year) and the interest rates hiking season might be close to being over. From the leaks that circulated on the internet lately after that fake Zelensky call with fed chairman, Jerome Powell it seems we're one hike away from reaching a limit set by the FED in regards to the hikes.
Inflation seems to be taming, at least that's what I noticed reflected by the oil and its derivative products, as of late, food is still lacking diesel and gasoline when it comes to tampering prices. But, Bitcoin is doing great, though, in the middle of all the turmoil and troubled waters that we're going through right now.
A $29k Bitcoin amid an insanely dangerous proxy US war in Ukraine, painful inflation, and probably the biggest banks collapse since 2008 is something to be proud of as a crypto guy... I still remember @trumpman putting a serious question in regard to the current bull market just a few months ago...
"Who's gonna buy Bitcoin in the middle of a societal and financial collapse"?
Well, I clearly see millionaires doing that after seeing how sound the current financial system is, I see financial institutions doing it again after testing the waters with crypto in the past bull cycle, now that the weak hands have been flushed out almost entirely and I clearly see Elon Musk doing it once again. Don't underestimate the power of Elon...
Oh, and I also see quite a few retail investors flocking into Bitcoin too, but only after it overtakes its previous ATH, as that should be their confirmation that it is now time to buy...
Many will call us lucky, at some point...
Lucky for grinding and HODLing drowned altcoin bags, for blogging for peanuts money, which is insanely painful if you're a full-time blogger, and for not selling during all the flush outs and the FUD that we've gone through. I don't say that it's all over yet. I believe though that the fun part of the bull market will commence after the halving. These are just test pumps that we currently have.
And once investors are over with meme coins and other related shit some of the strong projects out there will make it big this cycle.
But I don't get the fear of holding crypto( true project coins, not memes) during such turmoiled times. Wasn't Bitcoin designed for such an era? Wasn't it supposed to act as a hedge, to help us circumvent crooked totalitarian systems and help us evade the system?
Wasn't it designed for such an era that we're currently living in? Probably...
At some point, newbies will come and call us lucky for accumulating during current times instead of panic dumping, for grinding alongside Hive and Leofinance, and for making it at some point. I used to say the same shit when I was a newcomer.
I'd say the experience of two failed bull markets and two painful bearish seasons got me salty enough to make a difference for myself in this bull market.
We're not lucky, we're just resilient and that's what crypto is all about... Resilience...
Thanks for your attention,
Adrian