Crypto bear market in full swing

Last week was bad for most crypto bulls and hodlers as the market crashed overall, in addition to the death spiral of Luna and UST

Bitcoin broke US$30,000 hitting a day low of $26,000 before rebounding back. The current sentiment of the market is in "extreme fear" and we have been in the "fear" zone since the start of May. Looks like "sell in may and go away" really applies here. 

bitcoin fear and greed index


As Bitcoin has been tracking the S&P500, we might see further lows before we move off higher. There is macro pressure from the economy with weak earnings, high inflation and FED raising rates. 

How we emerge from this bear market, will largely determine your wealth in the next bull market. As the saying goes, "bull market makes you money, but bear market makes you rich!"

Preserve your capital well and buy in only when the opportunities are there! 

p.s.: if you're diamond handed hodler, do consider getting a cold storage wallet to safekeep your coins, who knows they might be worth a bomb when you dig them out a couple of years later! 



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