This is not all doom and gloom but i do think it's important to take a look at what the best route forward is because it does seem like we are in a bear market, or we have been in a bear market for a while here even bitcoin is down with 55-60 from a tie so i think it's important to take a look at all this and just be honest with ourselves so i think there are some good buying opportunities now while the crypto market is down today if we look the 24 hour here we're down by almost four percent bitcoins under 29,000 again and the stock market is being demolished as well, and we're talking some of the largest companies right like tesla down ten percent here today google down four percent Microsoft down a couple Amazon down a couple really the only thing that's up is healthcare over here, and it's up just a few percent so the market's being demolished so many people are worried about stagflation recession inflation, and we're we're just barely moving up rates right we're still at a very low rate environment and the fact is we're having another tapered tantrum where people are getting so fearful Wall Street's getting so fearful they're just willing to sell anything really at any price tesla is down 50 from a tie google is down what 30 or 40 percent from a tie Amazon's down 40 percent from its high a lot of cryptos are down significantly as well bitcoins down 55 percent Ethereum is down 58 ape coin 70 matic 75 solana 80 avex 80 hex 80 luna 100 down so many cryptos are just decimated right and some people think that it's going to get even worse I mean for the likes of something like a avax or avalanche because tara holds a significant amount of avalanche, and they have to raise money here soon, or it looks like they might have to avalanche is trying to buy this back from tara and just give them money, so they don't just sell it on the open market it's an interesting time right there's so much fear bitcoin actually has held up pretty well if i told you five months ago six months ago that a company like Amazon would fall 40
from a tie and bitcoin would only fall 55 i think that would be surprising to a lot of people or that tesla would fall nearly 50 from its high and bitcoin would only be down 55 that would be very surprising to me now i do think we have to take a look at what's happening moving forward right because we are continuously going to raise rates a lot of it is priced in I believe at this point and there's a lot of fear right it's still with the war with inflation stagflation a lot of people are worried about a recession now some people are taking big bets though for example these are the bitfinex longs, and you can see that they are betting really heavily on bitcoin moving forward while the price of bitcoins going down there's this inverse relationship where when bitcoin pumps they close their longs when bitcoin falls down they open up their longs you can see that we're at a very high amount of longs right now, and they're being pretty aggressive with this i mean this is going to be fascinating to see.
