LET'S TALK ABOUT CRYPTO

I haven't been paying a lot of attention to crypto lately. Unfortunately, I have my hands in other pies, which is making me reduce the time I spend creating and consuming crypto-related content. However, every time I have come online to curate, I see my account plummet. It is heartbreaking, to say the least.

The little understanding I have about the market situation was from a video by Khal on TikTok about UST and Luna being major culprits to this bearish trend that has everyone in a frenzy, and my fear is that things are going to get worse for the crypto market until the end of the year.

This crash will have a domino effect, hitting other crypto-related initiatives like NFTs, DeFi, etc and bursting other bubbles. More people are going to capitulate, sending the price down quicker than you can react.

Most people are still hopeful, but this is only the early stages of denial. It is going to take two or more crashes to change their mind but they will come around eventually.

It is a freaking bear market. The last time the market was this slow was in July of 2021 during the built-up to the bull run and we are gradually seeing the trend reverse.

But is one catastrophic event enough to plunge the crypto market into a bear run?

UST was one of the most talked-about stable coins last month. The hive blockchain made some changes/additions to its very own stablecoin to mirror UST. The last I checked UST is trading about around 66cents. Even HBD hasn't traded that low in ages.

As I said, I am not following the news fully (I am working on my emergency plan for the bear market), but there will be a lot of debate about stable coins in the coming weeks. I am also expecting government intervention (or better put, regulations)

I do wonder how the NFT space is fairing. That's another ticking time bomb just waiting to explode. We do need some sanity in this space. Myabe a bear run isn't bad after all.

Also, maybe this whole Terra issue is a one-time thing and the market will bounce back soon (I doubt). If that is the case, then you have a chance of doubling your portfolio by buying the dip (although that is more like a cliche now in the crypto space).

That's all I can ramble about today guys. Avoid looking at your portfolio. Maybe take a break from crypto for your sanity or strategize for the bear market. If you were thinking about launching a project or buying into one, this might be the time to review that decision. Cheers!