Unless you have been living under a rock, we just experienced a catastrophic crypto meltdown.
People are understandably upset, posts here are now emotionally charged. However the writing was on the wall as highlighted in my previous post
I don’t intend this to be a told you so post, I want to simply urge people to be cautious and think twice before overinvesting.
This is NOT a dip, this is likely the start of a drawn out bear market.
Inflation and rates are still on the rise, there are no immediate fixes for the supply issue, covid is still running rampant and the risk of war escalating grows by the day.
The Luna debacle broke alot of trust in stablecoins and crypto generally. People are all of a sudden realising these so called guaranteed stable coin returns were actually unrealistic and made of unicorn dust. Alot of people are taking a step back and thinking, are the returns on my staking realistic? Could I be like the Luna holders and not be able to take funds out in the event of a crash? Where are the returns coming from?
All valid risks, people are much cautious. The authorities will regulate this space as a result. They have their catalyst. They could force other stables like tether to reveal their assets and they too could be made of unicorn dust.
My message is this. The risks are still very grave here and if your not prepared to whether the storm think seriously about investing and never invest more than you can afford to lose.
I am still bullish long term. I will be patiently DCAing awaiting the next run. We will all be ok, just be sure you understand now is an extremely risky time to be investing.