No Black Swan Here
The crypto market is once again bleeding and this time there's no black swan event causing it. FTX is pretty much over, Binance is not even close to falling and the geopolitical environment is pretty much unchanged. I guess the wealth transfer from weak hands to strong hands is still in play.
No black swan in sight though...
As a matter of fact, we have a white one here. There used to be more of them, like this one, on the lake a few weeks ago, but the way I see it there's just one left. She's not shy at all.
I caught her in two places in different scenarios a couple of days ago and while I was "hunting for the best shot" with her she pretty much did nothing. Actually, she was doing her thing, ignoring me completely.
We don't know if we're out of the woods with the crypto market yet, but at least this white swan is a good sign. Maybe a reversal is in play. It has to be. At some point, the bears will have to go and hibernate. I'm not in hibernation mode at all, though. It's all in crypto or nothing...
That's about it for today, I wish you all a great Friday, and see you tomorrow.
Thanks for your attention,
Adrian
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I like your post because I wanted to see the swan and I ended up finding some company in this unhope feeling (talking about the crypto market). I agree that it has to stop, and I believe the stop moment is close. But I've been thinking and hoping that since June, and everything is worst and worst. So... it's a good time to cultivate patience and trust in life, that everything is gonna be ok ASAP.
You came for the swan and stayed for crypto ;). We're in the depression phase of the market right now when no recovery is in sight. This shall pass too.