The author is discussing the recent dip in the cryptocurrency markets and questioning whether it is time to sell or not. They mention a tweet from Willy Woo in January stating that Bitcoin will never see 20,000 again, which has not aged well. They also discuss the current fear and greed index sitting at an all-time low of six. The author notes that altcoins have held up better than Bitcoin but warns that Ethereum could go as low as $400. While the author admits that it may be time for some to cut their losses, they ultimately believe this is an opportunity of a lifetime and not the best time to sell everything.
In a recent YouTube video, the speaker announced that they were selling everything, including their hair, cat, dog, and grandmother. They expressed frustration with the state of crypto and admitted to being wrong about their predictions in a previous video.
Crypto Fear and Greed Index
The crypto fear and greed index is currently sitting at a six, which is the lowest it has ever been. The speaker notes that it feels depressing and that it is reminiscent of the market in 2018 and 2020. They also mention that altcoins seem to be holding strong, but they discuss the broader trend of losses, such as Bitcoin falling below $20,000 for the first time since 2020 and Ethereum dropping below $1,000.
Is Now the Time to Sell?
With the current state of the crypto market, many may be wondering if now is the time to sell. The speaker notes that some arguments could be made for selling, such as needing the money or for mental health reasons. However, they also believe that this could be an opportunity of a lifetime, despite the current losses. They caution that another 60% drop is a possibility, but ultimately believe that this is still a valuable investment in the long run.
The speaker discusses the reasons for the current market collapse, including liquidations, inflation fears, wars, and the Fed hikes. They also mention predictions for where the market could go next, such as Ethereum potentially dropping below $400. The speaker calls this a historic and monumental event, but believes that there is still hope for the future of crypto.
The speaker thanks their viewers for their support and encourages them to support Bitcoin, Ethereum, and other cryptocurrencies through likes, subscriptions, and notifications. They also note that the community’s support is needed now more than ever.