Altcoins Bleed. When Will It Bottom? Should You Panic?! All in 3 Minutes.

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For the fifth day in a row the US equity market is up by a few points while crypto currencies like Solana, Etherum and Polka Dot, and Avalanche drop by up to five percent. The Terra ecosystem is still fumbling people’s bags. And a guy who knocked on Luna Boss’ Door says he lost millions in a crypto crash. And for the thousandth time, naysayers are saying Bitcoin is dead. Welcome to NFT Daily News. Let’s get into it.

These past few days have been a good week for the US stock market that pushed the equity market higher especially today as the discount retailer Macy's spoke positively about the broader mid to high end retail market. In addition, weekly jobless claims dip while on the flip side Q1 economic contraction was confirmed which means that we are heading into a recession.
The million dollar question to ask is whether the crypto market has finally decoupled from the equity market and the answer is No, as it is still too early to tell. And even if it decoples, from past history alt-coins have shown to bleed as the crypto markets consolidate.
Now speaking of bleeding, Bitcoin saw a nose dive all the way to twenty eight thousand dollars within the past twenty four hours. Also solana and other major cryptocurrencies saw a big hit. My strategy and not financial advice is if you like any project consider nibbling a little bit here and there.
For example, for me it would be instead of buying a really bad energy drink per day, use those funds to build up your portfolio for the long term. And obviously, it should be money that you can afford to lose. Basically use the simple trick of switching from bad spending habits to good. But the goal here is to be consistent.
The next story is interesting but not really a surprise by now as crazy things generally tend to happen in a bear market. So you had a crypto steamer by the name of Chancer who was arrested after knocking on Terra blockchain founder Do Kwon’s door to see if he was home. And to give you background on this, Chancer lost millions of dollars in the Terra/Luna fiasco.
Maybe this was a publicity stunt, but I am not really sure. However it goes to show you that this space really needs time to mature, and this bear market, though it’s not fun, it's really helpful in weeding out questionable characters.
That’s the whole premise behind a market correction and creating efficient models. Nothing is guaranteed in life and all investments have risk and can go to zero. But if you decide to go over to knock on someone's door, understand the consequences. And sometimes, I wish cryptocurrencies had a way of filtering immature people but that goes to show you guys how early we all are.
And continuously, we keep on hearing that Cryptocurrencies are dead, especially from the guys at Davos. But on the flip side positive comments are coming out from outside that realm.