Glad that this week is over. I had a pretty good weight lifting workout today after work while the ladies went out shopping at the Bellevue mall.
Today I spent more time working with GitHub Copilot both at work and to resolve the issue with Open AI ChatKit deployment where it was not retaining chat context between sessions. It was quite an interesting journey with it the last few days, but I should probably make a separate post about that.
Crypto market took a real nosedive with Bitcoin under sixty thousand dollars, Etherium at fifteen hundred and Solana at sixty dollars.
Hive was recently making nice pumps, but it has now dipped into record low territory of under five cents. What am I going to do about it?
Well I think that I might start buying some Solana and Bitcoin ETF funds again if they keep going down. I don't have any free funds outside my retirement account so I am not going to be buying anything with non retirement money.
And even in the retirement account I will be making small buys. The general market expectations it seems that we are due for a small bounce in Bitcoin and then continue to trade lower into September or even October.
There is basically no need to rush into any of the risk on assets. The stock market is at very high level and we have giant IPOs coming with Space X and Anthropic.
I feel like both will go down initially and might not recover for a few years. I think we are going to see a major market top this year and the current selling in crypto is an early warning indicator of more trouble in the markets.
The war with Iran is not resolved oil market is still under pressure and real economy is going to enter a recession.
The narrative that things are down due to Microstrategy selling Bitcoin or because Clarity Act is stuck in congress are probably just excuses for speculative assets bubble and people taking profits and preparing for a major recession.
The gas prices are still over six dollars in Seattle area, houses are not selling and layoffs in technology companies are still piling up.
It just doesn't look very good despite Cathy Woods saying that we are approaching boom time in economy thanks to productivity gains.
And in about two weeks we have a Federal Reserve meeting with a new chairman appointed by Trump, it would be interesting to see if they are going to cut rates despite inflation running hot.
That is not expected and without a rate cut there is really no other catalysts for the markets to go higher. And summer is here, I think we are in a classic situation of sell in May and go away...
Splinterlands is in the same situation with SPS and DEC sitting at levels around historical lows.
Card valuations are also consistently declining, although it is hard to see due to a very low liquidity in card market especially for the modern league cards.
DEC is looking especially interesting as it is going to practically triple if it reaches the peg value. Right now might be an interesting time to accumulate DEC before the next set of modern cards comes out.
This report was published via Actifit app (Android | iOS). Check out the original version here on actifit.io
