Welcome back,
In today's blog we will talk about the current market situation. Last 48 hours was the time when we saw a dump incoming for all of us. Do you ask me how? It is simple as Grayscale BTC ETF positions getting sold.
That actually became the reason for the market crashing today and FTX is being blamed and we are hearing the rumors about FTX to be behind Grayscale Bitcoin ETF selling worth 1 billion dollars.
Well, no matter what the reason behind this crash is, the thing that is important is how we must react to this downfall and the question is should we really panic in this market situation? The answer is No, we should not panic and rather see it as the opportunity for ourselves.
Let us have a look at the fear and greed Index.
The current market sentiment is said to be normal and so not being in panic is also common right now and I will suggest you to compare the FAG Index for previous market highs and then you will agree with me about this being the time to buy alt and other crypto for us.
Hold on your long term holdings, look for good projects or put money in portions in small amount as the market goes down. I think we should hit the 36k mark as well as the 40k is already broken so 36k will not surprise me at any cost.
I am ready for that mark with my funds, the reason is quite simple and that is this dump further will have a impact on alt coins by 15-20% in my opinion. That is why the orders I have placed are set according to this 15-20% scenario only and I am no magician to find out what will happen in future so this is not a FA.
Just remember to hold on your long term assets and buy your well researched trusted coins at each dip you get. Doing this is enough in my opinion.
Thank you