The good news round up.
The heavy hitting FTX news has mostly plateaued for now (thank Christ).
And doubling down on the doom and gloom (without a clear catalyst) feels excessive.
So let's break the cycle and catch up on some positive news...
Bitcoin bounces back.
After one of the worst market crashes of the year, Bitcoin has found its legs quicker than most expected.
This is because inflation looks to be decreasing, and investors are betting that:
The Federal Reserve will slow interest rate hikes → which means everyone's credit and loan repayments will ease up → which means the overall market will have more to invest (in things like Bitcoin).
Decentralized Exchanges (DEXs) are surging in popularity.
This isn't just good for the folks running the DEXs, but the entire crypto space - because it makes FTX-style fraud, impossible.
DEXs can't be manipulated internally the same way FTX was - because DEXs don't control users' wallets/funds.
Instead, it's the user (and no one else) who holds the passwords to their crypto holdings.
Shell (the oil mining company) want to make Bitcoin mining more eco-friendly (?)
By applying their 'immersion cooling fluid' technology, Shell want to help regulate the temperatures of Bitcoin mining computers - which will help boost overall efficiency and lower total energy requirements.
This screams 'PR stunt' on Shell's part, but hey - if they can do what they're promising, why not let them?
3 golden nuggets of hopium from Raoul Pal's live stream.
(Take this all with a grain of salt, no one can predict the future - but damn if it isn't nice to hear, from someone in-the-know):
People are saying:
"'This is the worse thing I've ever seen,' or 'this space is never going to recover'
...usually this happens around the lows [bottom of the market] so we're close [to recovery]".
Answering the question of: 'what do you think retail investors should do to stay in the long-term game of crypto without sacrificing mental health etc.?'
Raoul responded:
"Don't be involved in the drama of your P&L [Profit & Loss].
If your time horizon is 10 years, it makes no difference what it [crypto] does this week, next week, this month, this year."
A recession is probably already priced in to the markets.
"Tell me a living person who doesn't know there is probably a recession coming...
[Which means] it's probably priced in."
Translation: everyone expects a recession, so when/if it hits, it probably won't shock the market as much as everyone thinks it will.
Nice little break from the madness, no?