Bitcoin fell below $20K and Ethereum broke $1000, and it feels more like the early stages than the later stages of a global recession.
Firstly, remember that we are all cosmic specks of dust - we do, and yet, do not exist in the grand scheme of things.
Hard time comprehending the universe? Just remember that it’s actually above everyone’s head. pic.twitter.com/QsWRhHAIZ7— Neil deGrasse Tyson (@neiltyson) April 5, 2022
Coinbase, BlockFi, Crypto.com, Gemini, Mercado Bitcoin, Bitso, and more have announced layoffs. Actions speak louder than words - these companies are all signaling that we should be bracing for (crypto) recession and winter. While it already feels painful, it seems like we are still in the early innings and there is more to drop from here. I joked about 3 digit ETH, but should we be thinking about 2 digit ETH?!
Coinbase, BlockFi, https://t.co/slPnke6ybz, Gemini, Mercado Bitcoin, Bitso, and more have announced layoffs.— yewjin.eth (@yewjin_eth) June 14, 2022
Actions speak louder than words - these companies are all signaling that we should be bracing for (crypto) recession and winter.
I firmly believe that ETH is the one useful blockchain with dominant mindshare, and have sold all my alt L1s to have the capital to reallocate to ETH. I am keeping my BTC holdings though as it will always be the OG cryptocurrency and therefore be viewed as a store of value.
NYA. DYOR. Have a plan and stick to it. I wish all of you happiness and good health.