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Maybe I'm just a cockeyed optimist, but things look pretty good for crypto right now

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by COINS NEWS 143 Views

We're in the worst economic situation that the world has seen in several decades and yet most cryptos have been completely shrugging off the consistently bad numbers that keep coming out.

--A massive global recession seems very likely (if it hasn't already begun).

--In the US, interest rates are high and probably going higher.

--Inflation is still rising in a lot of countries.

--Home ownership is unaffordable for most people.

--Renting is somehow also unaffordable for many.

--Just as COVID seems to possibly (maybe?) be getting under control, monkeypox and a new Ebola strain threaten our daily lives.

--Extreme amounts of political unrest occurring in many countries with many actual fascist politicians gaining favor.

--There have been natural disasters (storms, fires, floods, etc, etc) all over the place at an increasingly alarming rate.

--LUNA collapse, Celsius collapse, and many other crypto-related debacles

--Oh yeah, somehow there is STILL a war in Ukraine.

Meanwhile Bitcoin is still chugging along and hovering around $18-19k, which YES is lower than the high it made during the previous bull run, BUT honestly it isn't that much lower. All things considered, to this member of /cc things seem pretty decent in terms of crypto.

Granted, we could go lower. We could go a lot lower.

If we're at/near the bottom, though, then this bear market hasn't been all that much different than previous ones AND Bitcoin (and other cryptos) have shown extreme resiliency when you consider that during other bears the world wasn't the flaming dumpster fire that it currently is.

At some point all of the issue mentioned above will be resolved and when that happens the crypto boom will likely continue. Whether that will happen in a year or two or three or some other time frame, I have no idea... but it will happen. Things will get better eventually. In the meantime, add more to positions that you have faith in (if you are able to) and then go do something fun outside (or inside, if that is your bag).

Not financial advice. Just a perma-optimist's perspective.

NEVER invest more than you can afford to light on fire.

submitted by /u/wheelzoffortune
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