Local top things
<p>When markets go south it’s hard to tell when the bottom is in because fear is at such elevated levels. In hindsight, it’s obvious. Capitulation was everywhere and optimism was nowhere.</p>
<p>Tops are no different. And the crypto markets have been going sideways for month, giving hope to rekt hodl’rs the world over that the bear market is over. </p>
<p>Already this week your train-wreck, crypto “influencer” du jour is <a rel="noreferrer noopener" aria-label=""relaunching" his AntWarz WhaleWarz competition (opens in a new tab)" href="https://twitter.com/Crypto_Bitlord/status/1105526242718101504" target="_blank">“relaunching” his </a><del><a rel="noreferrer noopener" aria-label=""relaunching" his AntWarz WhaleWarz competition (opens in a new tab)" href="https://twitter.com/Crypto_Bitlord/status/1105526242718101504" target="_blank">AntWarz </a></del><a rel="noreferrer noopener" aria-label=""relaunching" his AntWarz WhaleWarz competition (opens in a new tab)" href="https://twitter.com/Crypto_Bitlord/status/1105526242718101504" target="_blank">WhaleWarz competition</a> to reinforce bad trading habits to bad traders. </p>
<p>Justin Sun launched <a href="https://twitter.com/justinsuntron/status/1105489295777783808">some completely scammy sounding airdrop/giveaway</a>. I don’t know more than that because I didn’t bother to click through. Both of these examples feel more desperate than optimistic.</p>
<figure><img decoding="async" loading="lazy" width="640" height="790" src="https://www.forexmademillionaire.com/wp-content/uploads/2019/03/image.png" alt="" class="wp-image-2189" srcset="https://www.forexmademillionaire.com/wp-content/uploads/2019/03/image.png 640w, https://www.forexmademillionaire.com/wp-content/uploads/2019/03/image-243×300.png 243w" sizes="(max-width: 640px) 100vw, 640px" /><figcaption>You can’t make this shit up.</figcaption></figure>
<p>We’ve also had reports of <a rel="noreferrer noopener" aria-label="Chinese miners "investing again" into mining equipment in anticipation of cheap power from hydroelectric plants (opens in a new tab)" href="https://www.coindesk.com/bitcoin-miners-are-investing-again-expecting-a-cheap-power-boom-soon" target="_blank">Chinese miners “investing again” into mining equipment in anticipation of cheap power from hydroelectric plants</a>. I can already see the headline three months from now: <em>Record Drought in China Leaves Bitcoin Miners Pounding Sand</em>.</p>
<p>But it gets worse.</p>
<p>There’s a new movie coming out, “Crypto”:</p>
<figure><iframe loading="lazy" width="560" height="315" src="https://www.youtube.com/embed/kYZut3DWvek" allowfullscreen=""></iframe></figure>
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<p>Then, while watching Netflix’s Russian Doll the other day I stumbled on this hilarious clip:</p>
<figure><video controls src="https://www.forexmademillionaire.com/wp-content/uploads/2019/03/RussianDollCrypto.mp4"></video><figcaption>He’s huffin’ because he knows the bottom’s not in yet.</figcaption></figure>
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<p>I’m shocked about the recent optimism in the crypto space. One thing you can’t call these folks is pessimistic. It also amazes me crypto is still making such mainstream appearances after the massive decline we’ve experienced. And it’s for all these reasons why I can’t get bullish yet. It just feels like “top things” rather than “bottom things”.</p>
<p>Tread carefully.</p>
<p>The post <a rel="nofollow" href="https://www.forexmademillionaire.com/local-top-things/">Local top things</a> appeared first on <a rel="nofollow" href="https://www.forexmademillionaire.com">Forex Made Millionaire</a>.</p>
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