Crypto Is Dead: Long Live Crypto
Well that was a grand experiment. The developers must have packed up and went home. All the users shut down their wallets. Elon has spoken so the market obediently listens.
Crypto is dead.
Or this is the indication we are getting from those who put a lot of stock in the market. The FUD is in high gear with people complaining how Elon killed it all.
For years I espoused the idea of ignoring the market. It tells us little to nothing. Other than looking for buy and sell points, the market is completely useless. This is especially true if the accusation that the market is crashing because of Musk. If that is indeed the case, then the stupidity level among the market participants is legendary. Anyone who buys or sells crypto based upon what Musk says certainly has a screw loose.
In this video I discuss how we need to look at that which is truly important. Since the market does not know, nor care, what is going on, it is vital that we do. This is how fortunes are made. So, if you believe the market, all of his is in peril. However, if you understand what is taking place, then you know that is completely foolish.
▶️ 3Speak
Plain stupid. The DOGE pump has proved that prior to Elon's FUD. Amazingly stupid, hence the volatility.
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You really do have to understand that 95% of the worlds population just doesn't get it and then complains when they make dumb choices like this. For me stepping outside of that and looking at the grand picture and understanding how "most" people operate in the stock market and crypto markets now more than ever with the introduction of wall street bets it was painting a clear picture of massive rally following by an implosion at some point. We just had a pretty decent sell off honestly which made for a perfect buying opportunity I thought so I picked up some more Ethereum lol
For me the money I've been messing with is kind of a game. I started with a small investment at the start of this year and have been only trading crypto with it ever few days/weeks and even the longest was a one and a half month period of time. Just to see how well my theory on all of this was looking. So far so good!
Fact is no matter how much we might hate it FUD, Influencers and them talking it up or down are going to play some impact on the markets always. What you and I understand is there's a core shift happening and while it wont be tomorrow imagine 2-3 years from now and those stacking efforts today are going to pay off 1,000x in just a few years.
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Its also the reason why I have zero plans on buying things like DOGE. When they don't have anything to show for it, the price crashes and everyone stampedes for the exits or bag holds. So I focus more on the development side and what is actually happening more on the chain. I don't doubt that people will continue to be dumb and follow along other people's trade without thinking. So I will ignore it and follow me own plan.
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At this point in time, one should see the whole shit as an opportunity and not as a way of panicking, always remember the world is made up of many people no man can decide it all
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I would rather say manipulated.
The only thing I care about right now is if the bull continues, because I want to convert more of the coins that I don't want to hold long term to stable coins in order to buy bitcoin and hive in the bear market. Other than that, the market doesn't interest me at the moment
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Summary:
In this video, the speaker discusses the current state of the cryptocurrency market, emphasizing the importance of looking beyond token prices and market fluctuations. He argues that market movements do not accurately reflect the actual development and potential of cryptocurrencies. The speaker criticizes the focus on token prices and market cap as indicators of success, pointing out that many projects gain attention based on hype rather than substance. He highlights the need for continuous development and code updates in the industry for projects to succeed in the long run. The speaker also touches on the influence of figures like Elon Musk on the market, cautioning against attributing market downturns solely to individual actions. Overall, the video encourages viewers to focus on long-term vision, development, and real-world utility rather than short-term market movements.
Detailed Article:
The video delves into the current narrative surrounding cryptocurrencies, with the speaker challenging the prevailing emphasis on token prices in determining the industry's success. He begins by declaring that the crypto world is not on the verge of collapse, dismissing the idea that recent price fluctuations signal the end of the market. The speaker urges viewers to ignore the short-term market noise and focus on the fundamental aspect of development.
He criticizes the market's fixation on token prices, noting how projects can swiftly gain and lose value based on market sentiment rather than actual progress. The speaker highlights instances where projects receive substantial investment and attention primarily driven by hype, cautioning that sustained development is crucial for long-term viability.
One key point is the discussion around the role of traders in the market. The speaker distinguishes traders, who are solely focused on financial gains and market movements, from long-term participants who see cryptocurrencies as a transformative technology requiring continuous advancement.
The video also touches on the influence of prominent figures like Elon Musk on the market. The speaker disputes the notion that a single individual can single-handedly crash the market, emphasizing that true market dynamics are more complex and multifaceted.
Furthermore, the speaker emphasizes the importance of continuous development in the industry, highlighting the necessity of ongoing coding and updates to drive progress. He stresses that sustainable growth and success in the crypto space are contingent on tangible technological advancements rather than short-term price fluctuations.
In conclusion, the video encourages viewers to adopt a long-term perspective, focusing on the underlying technology, development trends, and real-world applications of cryptocurrencies. The speaker asserts that the true value of a project lies in its ongoing development and utility, rather than its market price or ranking.