The emotional and psychological swings in crypto can be exhausting. 🥺
If you’re new to crypto and got into it between August 2021 and April 2023 and are still here, congrats – you’ve developed a thick skin.
Rallies like Cardano’s +50% move last week feel great and fill you with hope that the end of the bear is at hand. But then, a day like today happens, and it’s almost worse than a long and painful bear market because this time, you were filled with hope, and you were happy until the bad, naughty profit-taking monster came along and ruined your day.
Everywhere around the crypto space, you see clickbaity articles like This Is Why Crypto Is Down Today, or Random Analyst No One Has Ever Heard Of Explains Today’s Sell-Off.
If you’ve been a long-time reader of the Litepaper, the pullback and profit-taking shouldn’t be a big surprise; I’ve touched on it many times since early November (example: Week 45, November 15, November 27). 📜
Most of the crypto market looks like one of these four weekly charts below – profit-taking will almost certainly happen, especially with Christmas right around the corner too.
