Everything is on fire right now... but not the kind of fire that we had in 2021 in the crypto market, which I blew in such a way. By "fire" I mean that pretty much every market out there, including crypto, goes through hellfire. There's a lot of FUD right now, not just in the crypto world, and I rarely hear anyone around investing in anything.
Crypto has been in a continuous downtrend for over a year now and the downtrend is not yet completed...probably. At least we have no confirmation yet. There are all sorts of views and opinions on Hive and other social media websites regarding "the bottom".
Some say that according to "their indicators" we have bottomed, or are in the process of doing that, while others claim that we won't see anything of that until BTC revisits the $12k area and alts are getting purged through hellfire while the king nosedives that low.
Markets, as you have probably noticed already are on a continual "emotions rollercoaster" and emotions are detrimental in paving the path for our future investments and returns on investments.
A few days ago I watched an interesting video on @threespeak of @taskmaster4450 where he shared his opinion regarding the time when he expects the markets, crypto included, to start a new trend(an uptrend actually). As he confessed, his timeframe for that was until recently the end of this year, but 2022 is almost over, and probably if we wouldn't have the FTX collapse his prediction would have been right.
Now, Task sees Q2-Q3, 2023, as a future time frame for that change in trend. We will have to see if he's right. Meanwhile, let's have a look at the cycle of the market emotions map and try to point out where we might be right now... I have a 99% chance to be once again wrong on this one, as many times before, but I believe we're somewhere between hopelessness and depression.
At least that's how I feel. I live off crypto, I mentioned that one more time on one of the @daltono posts today where he was detailing how he feels right now while being in pretty much the same position as I am, and tbh I kind of feel a bit hopeless, and depressed. I am about to put my Mcdonald's cap on my head soon :).
But what about you, where do you think are we in this cycle of market emotions?
Thanks for your attention,
Adrian
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