- Russia invading Ukraine? Big deal. It's a tragedy for the Ukrainian people, but the truth is that this will not cause the apocalyptic market crash many were predicting just last week as Ukraine simply isn't that important or relevant. It WILL NOT lead to WWIII as some mass media commentators would apparently like us to believe and Biden has made clear multiple times this week that the US will not be sending troops to repel the Russian advance.
- Fed hiking interest rates? Yes, but up to 0.5% is anticipated and has been since J Powell spoke last month. There's now a greater chance that 0.25% will happen.
- Biden's Executive Order on Crypto? He wouldn't be making any Executive Order on crypto if the US Administration didn't believe that crypto as an asset class is here to stay. Given the situation in Ukraine, itβs likely that Executive Order will now be indefinitely delayed.
- The SEC deferring decisions on Bitcoin ETFs? They would be declining those applications instead of deferring them if they didn't anticipate eventual acceptance and regulation.
- Companies, Pension Funds, Hedge Funds, VCs adding Bitcoin to their balance sheets. They wouldn't be adding -ANY- crypto to their balance sheets unless their auditors and accountants didn't concur with the belief that crypto as asset class will eventually gain acceptance and formal regulation as an asset class.
The point? This sub has a very short memory. We've seen 29K, then 69K and 33K, then 45K in the past nine months. What we're seeing now is absolutely not a 'Crash' and anyone suggesting we will be seeing a 20K BTC or $1,000 ETH is mistaken.
As per the title, this is the time that crypto can and will actually shine.
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