The Grayscale event looks one of the most apparent (and hopefully final) major crypto dumps on the market. It basically means a lot of BTC (40k or so) is now (or was) available on the market.
I watched this video by Benson Crypto during/after the fact, but it was illuminating on why Grayscale may be playing a role in the current crypto dip. Another video from Coin Bureau supporting the Grayscale concern. Coin Bureau has also pointed out how Binance transactions are currently limited in Europe.
As a non-whale, and as so many others have pointed out, dollar cost average (DCA) in valid crypto projects. From my, the Grayscale event will cause an exchange of paper hands to diamond hands.💎👏
From my perspective, while Binance is currently limiting transactions in Europe, Binance in all likelihood will resolve this issue by implementing KYC, and working with EU regulators more closely, so this issue seems temporary at worst.
If you get into new projects, be wary of rug pulls and scam coins. Even if an influencer who you trust promotes an altcoin, go check the coin’s white paper along with several independent influencers. If the same group of people promote it or you can only find one influencer, be wary. Famous people who promote crypto usually get paid elsewhere and do not usually have very deep DD.
As a reminder, there has only been increasing adoption in crypto. Despite the FUD, we’re seeing more adoption in more countries, crypto used by the US government in limited circumstances, and just increased crypto adoption in general.
Ultimately: do you see more adoption or less in 5 years? Will the price of deflationary projects increase their price in tandem or decrease?
Yea, I thought so lol.
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