Don’t Falter, Don’t Fumble The Bag
Now is not the time to lose conviction, that comes later. Market overview, Ethereum ETF prediction, SEC vs. Uniswap, NGMI Capital updates and more.
Published in
7 min readMay 8, 2024
The sentiment has stumbled somewhat for crypto since I last wrote this newsletter.
In the seven days between now and my last post, bulls have become what feels like an endangered species and bearish prattle about “local tops” and “it’s so over” seem to have fallen in all around us.
I find this lack of conviction equal parts disturbing and pathetic.
Although — in all fairness — this kind of bipolarity makes sense when you consider the following points:
- People still legitimately believe macro has a significant correlation/impact on crypto prices.
- Everyone’s perceived sense of gains has been ransacked by a memecoin-addled overdose of dopamine. This was dished out to nearly everyone who was smart (or lucky) enough to take a 1 SOL punt on practically any shitcoin launched in the last month. Now anything less than a 10% weekly gain on majors just kinda feelz bad man.
- Some people simply cannot be helped and will map their emotions to whatever colour the daily BTC candle is.