Crypto markets, just like bond and equity markets, follow predictable patterns when there are macro-market events occuring. This weeks those events were massive bitcoin selloffs. FEG, like 99.99% of other crypto assets, faced large scale sell offs as retail traders became panicked. The big news was that China (for the 99th time) is essentially saying they want to ban crypto.
To me, these events reminded me most of the wild swings we saw during COVID in global equity markets. Stocks plunged as investors panicked. There were no changes of assets like Apple, google, or GE, but investors are predictable and sell when there is fear. I remember hitting circuit breakers every morning before US markets opened before I was even able to finish my coffee.
What happened next? There was a massive V shaped recovery. Why? Because nothing actually changed - the pussies sold, the sharks bought, and the market recovered + more.
Guess what? That happens next in crypto. And FEG will rocket. Why will FEG rocket? Because nothing has changed since China said (for the 112th time) they will ban crypto. We still have an awesome product, an awesome dev team, an awesome community, and a product roadmap that makes my gorilla dick pulsate.
So what next? DONT PANIC. If you believed in FEG earlier in the week, nothing has changed. As I pen this, FEG still has a market cap of 400M. 400M for a new coin. That should excite you. Over the weekend, I expect the dip will continue to be bought, as we have seen 12 times so far with FEG falls, and we will nornalize in the 500+M mkt cap. Did I mention we have almost 1M holders?
I am excited. I also, like I have mentioned before, have a brain that operates like the Watson supercomputer. So continue to HOLD, continue to buy the dips, and for those spreading FUD, change your adult diaper and re-analyze why you bought in the first place. The future is bright team, just act like you have been in the endzone before.
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