Approximately $40 billion has been wiped out of the crypto market since this post of mine was published, and a $1,000 god candle crushed the so-called BTC floor at $31,000. It will probably take a few more days for BTC to regain its momentum.
So, what happened? Well, it's just another case of FUD branded by the SEC, this time regarding the recent Bitcoin Spot ETF. The SEC is basically claiming that these ETFs are "inadequate." What a surprise, right? Well, not really...
Lately, the SEC has been showing clear signs of oppression towards crypto, and these signs are as clear as day. The idea is that BTC won't experience a mooning anytime soon, but that doesn't mean the SEC can hold back the train for too long, because that's the purpose after all.
How does this affect us?
Not much, I would say, unless you're a reckless leverage trader risking more money than you can afford to lose. This leads me to today's question for #askleo: "Are you a compulsive checker?"
What does that mean? Well, it means that if you're a compulsive checker, you constantly monitor crypto prices, and your mood is somehow tied to price swings. Right?
Yes and no. While I do admit that I'm a compulsive checker, constantly checking my Hive blog, Twitter, and Coingecko multiple times a day, my crypto strategies are not influenced by market swings. I stand firm in my belief that parabolic runs in crypto will occur in mid-late 2025, and that's when I plan to sell.
If the market happens to boom earlier, it wouldn't bother me, but I highly doubt it will occur. My strategy is crystal clear, and after five years in crypto, I've learned my lessons, including not respecting the SEC, taking a page from Elon's book.
What about you? Are you a compulsive checker? How does market volatility affect you?
Thanks for your attention,
Adrian
