We’re seeing our first glimmers of what could be a bottom here, huge pump here from 33 000 up to 37, and this is the stock market, is now beginning to feel quite over sold and it’s starting to bounce as well remember. This is an adjustment to one little change by the federal reserve and, of course, it signals a couple of major other changes on the horizon, but we still haven’t seen those remember these are all unprecedented and uncharted times and, quite frankly, all of this is completely outside Of the realm of cryptocurrency, it’s not like uh, the bitcoin whales just started, selling and mass.
It’s not like all of a sudden Eliot trade started buying anything for his his porch area here, clearly not um. The reality is is that we just had a change in monetary policy, which is definitely going to affect risk markets, but in the long term, is completely detached from everything happening in nfts web3, gaming, d5, social tokens, music, nfts. All of these things that are actually completely evolving industries and, in my mind, helping users have better lives right people who are going to be able to play video games across the world and partake in these powerful economic engines.
That’s a huge improvement to most people’s lives. Uh now, of course, we don’t know where the short to mid term is, but my gut now is feeling like okay, a relief bounce here, even if it’s just a relief bounce would make a lot of sense going into the 40s or 50s here.
Even if we just stagnate there and eventually turn down and go bearish again well for the people who have maybe been waiting for a chance to sell and take some risk off, there’s your opportunity. Please do not tell me that i did not tell you about this. One after each crash, I’ve been mentioning not saying forcefully, but mentioning hey.
Look if you’re, really freaked out right now, maybe take some risk off on the next bounce. Now i personally uh took the profits i took on the way up and i have what i have. I have i have my bags and to be honest right now, i’m really hoping that what we see over the next few days and weeks is the nft market completely start to decouple as far as usage and utility um. Obviously, i’m invested in a lot of games. There are so many games coming to market many of them not yet in market many of them not yet definitely not fulfilling up to the promise.
The hope that they’d hold and grow user bases just yet, but i believe, that’ll start to change here in the next few months. So that’s what i’m holding out for uh in the end orange coin looks like it’s going to deal mostly with this fed rhetoric. Uh again, the inflation narrative that drives bitcoin has everything to do with what happens with the dollar. So if the dollar is going to have a major change of policy that would bring more value back to the dollar, then of course it’ll suck the life out of bitcoin. But these cycles can only go on so long and the reality is that you know the crypto industry is not always going to be in the throes of bitcoin’s activity.
Eventually, it will become quite nuanced, just like, if you know the the tesla stock has a bad day. It doesn’t mean that apple stock necessarily has to have a bad day, though sometimes there are correlations there. So what am i saying i’m looking for? There has to be some bounce here. We’Ve had the most unabated down trend, i’ve seen in a very long time, and there has to be there’s always some kind of reversal.
Of course, even if it’s temporary, it happened all throughout 2018, there were tons of rallies throughout 2018 that you could have sold into, and the fact that we haven’t seen that makes me feel as though a rather sizable one is coming again, i’m just one guy with A with an iphone filming himself on a messy messy roof here, so you need to make your own decisions in this market. Hopefully my frameworks help you make good decisions and find good projects again. I’M really really focused on things like creeps things like treasure, dao and the magic ecosystem. Things like defy kingdoms, uh things like crypto, raiders, uh, things like play to earn and navia uh. These are projects that i think have uh real, interesting things and components going on.
Obviously, i’m spending most of my time uh working on getting imposters in the and the marketplace out as well as content, but these are the areas that i could see doing well, despite the market conditions again like i said this is meant to be a starting point. If this stuff helps you, if you like the video like the video, as i said, if you’re here during the tough times, you’ll be here for the good times, and if you leave during the tough times and only come back for the good times, then you’re, probably You know destined to have more wrecked tough times in the future, so um. During these times i like to double down on work ethic. I like to push even harder, because i don’t know if you guys were there during the sort of august period on this channel. But i was obsessively pushing into metaverse and nfts during july and august, because i saw the writing on the wall um and then when people were getting into it in november, after facebook made their announcement and and so on, that’s when people got wrecked.
So, if you’re here during the tough times when there’s nobody you’ll be there for those early, magnificent waves uh before they get too easy again and essentially the the gig is up. So that’s the goal. That’S my goal again when the next you know bull parade happens is anyone’s guess, but it does feel like short to midterm, more likely to see more up than down because it’s just been too much down, and you know this whole market. It’S like a rubber band. There is, there needs to be some kind of response.
Things can’t go too far in one direction: right um, as always, i’m elio trades. If you like, the video, like the video, find me on twitter at elio trades i’ll, be here each and every day with you, uh we’re gon na get through this later.