Excerpts from CareYourPresent – a crypto enthusiast!
FTX collapse – Black Swan really happen!
FTX collapse and filed for bankruptcy on 11 November 2022. I was spot on with my forecast that there will be a Black Swan after the solar eclipse and it happen only about 3 weeks after the eclipse!
For those who do not believe in astrology, they deserve it with their money stuck in FTX. For me I withdrew all my coins in FTX about 1 week after the eclipse and store all the coins and USDC in my ledger. Safe!
Many people shared the stories of FTX, timeline etc about this bankruptcy. This will be a big dominos effect for the Crypto Market, but so far this didn’t hurt the traditional stock markets.
After LUNA-UST, incident, I learn that for Crypto, better to sell once there are any news. BE SAFE than Sorry!Anyway, for the recent FTX collapse, I have transferred to my on-chain wallet linked to Ledger.
Things to remember for crypto
- If you hear any FUDs in Crypto Twitter (CT), especially from those more reputable CT posters, it is better to be safe than sorry. Take precaution.
- Keep your coins in hardware wallets like Trezors and Ledgers.
What is my plan for Crypto?
I still believe in the future of crypto and will even outperform stocks in the future. Hence, I am waiting for the dominos effects caused by FTX collapse to play out first for the next few weeks. I will start to enter if BTC hit around 13k or ETH reach 800.
However, I might go in once below 1k. This is because recently BTC dominance is dropping and ETH become more resilient. See how the situation play out first. Meanwhile, do you believe in Astrology/Metaphysics now?
Update for stock markets
Recently the market went up a lot because of CPI 7.7%, wow 0.2% drop. Market believe Fed will pivot. Hence, many people must be thinking that my view that there will be big crash for the stock markets is.
Do you believe this is really bull when FED target is 2%? If you go research, most buyers are retailers, not institutions. Be patient and wait. Of course, you can FOMO and go buy, but please exit in time when you have profits, especially your warchest/cash level is low.
Another way is of course, buy, hold, stay on course and hold for 20-30 years, likely you will be profitable if you bought good companies and Crypto.
You may ask what is next now on the stock markets? Many now believe that since CPI and PPI has gone down, there should be an year end rally.
I still differ from those experts views. I still maintain that next month December will be very bad for the stock markets and will stretch till January next year.