We have some good news and some bad news to cover here today. First, whales are selling, but it’s something that we already knew was happening. So I want to show you what institutions are doing? What big investors are doing ?
We can tell that the market is red, but we’re going to walk through it to give a balanced view of the market right now.
We have the whole market looking pretty red. It’s down still. We thought maybe we get we share recovery, but with certain cryptos like Polkadot at 26 dollars the mid-20s, Cardano nearing the 120 range, Ethereum right around 4.000 dollars. So it’s not quite what we had probably expected a week ago, but we are getting some nice deals.
I think there are still many deals, and we’ll cover a couple of them towards the end.
So we have some good news. First of all, for everyone that’s in on Cardano, they live over on Sunday swap, so this is the decks they say hey play around with it tell us the bugs issues and just recommendations, and we’ll try to take it from there.
So this is good. The decks will be really important for Cardano; we need more DeFi on Cardano; hopefully, this is the start of some kind of turnaround on Cardano. I’d like to see them move back up in price obviously with many other investors, too, but this is a step in the right direction for Cardano.
Also, we did get some news from finance marching and Animoka brands that they have a 200 million dollar fund for game fee products.
Binance has unveiled so many funds this year they had a one billion dollar fund recently, they have this 200 million dollar fund; I swear they had some other ones they’re still burning tokens every single quarter. They are really doing a lot to build their ecosystem. This could be huge for Binance over the long term. They already have their one billion dollar accelerator arm for DeFi, non-fungible tokens( NFT) and GameFi that was set up earlier this year .
They’re unveiling another 200 million dollars with these co-investment projects building on BSC. They will get the opportunity to gain insights and expertise from leading giants such as Animoka brands and collaboration opportunities from blockchain experts in the BSC community.
One other thing that we have coming up this week is we have inflation numbers, So on the 10th we’re supposed to get the inflation numbers this is an estimate from tradingeconomics.com and they’re saying that we should have around a 6.3 inflation rate right now we’re at 6.2. I would not be surprised if it was 6.3 or even higher, but they’re expecting it to fall back down next year. By the end of next year, they’re expected to be closer to 3% than 6%. if we keep on seeing inflation go up significantly.
We’re obviously going to see more people that want inflation hedges and Bitcoin is thought of as a great inflation hedge. Now let’s look at what whales are doing? Because we did get the newest investor report so this week digital asset investment products saw a total of 184 million dollars last week but we saw outflows totalling 40 million on Friday.
We know that Friday was a little bit bloody so it kind of makes sense that there was a lot coming out but we had a 145$ million going into Bitcoin 25$ million going into Ethereum 11$ million going into multi asset which is interesting because that shows that they are trying to diversify a little bit compared to the month to date where we only had really 3.2 million and then Litecoin had a little bit Binance had a little bit Solana had a nice inflow of 4.6 million Polkadot and Cardano both saw outflows.
So they both saw people selling them more than buying or institutions selling more than buying and then Bitcoin like I said it did see a lot of inflows but that’s probably where the majority of crypto was flowing out on Friday.
So overall we did have another positive week but it’s kind of soured a little bit with Friday so we knew that we knew that big players were already selling because you don’t get sell-offs. You don’t get these nine thousand dollar moves without whale selling so basically what they did and we’ve talked about this before they started to sell off around 56–57 to set off some stop losses and then we had people that got leveraged they kept on falling down they got margin called they had stop losses they kept on falling down that’s how you see such drastic decreases in price and then it bottomed out here around 46 45 thousand.
We saw it even lower than that, on some exchanges but on this view, you can see around this level and then it kind of popped back up some people are saying this is a dead cat bounce.
It’s hard to tell exactly where we’re going from here we could see more dips before we see more green and with the fear in the market. I think that’s definitely possible I’m not writing here saying that it’s not possible but I’m saying here saying that if that happens I will continue to dollar cost average.
I see a lot of good deals in the market and I wrote about this. I wrote about some great cryptos they have big catalysts here in the next month. I think it’s important to remember that these cryptos are best to buy when they’re down.
Let’s not sit here and say that we wish that we could be buying 60 000 Bitcoin. We would much rather if we were going to buy and add to our bags for the long term we’d rather have it around this price I remember the summer where every single day it was painful right we saw Bitcoin go up a thousand or two thousand then back down three thousand and it just seemed like. We were there forever but then it took off and a lot of people forgot that we were even in a dip, some people weren’t even invested then so I think we could definitely see that here.
I am not Financial adviser, You are always make own research before make investment anywhere.
I’m expecting a great 2022 in crypto at least for the beginning part of the year and if you can pick up some deals, I think that’s a great great opportunity we have some cryptos that are still holding up well like Luna, Polygon but a lot of them are down 10, 15, 20, 30, 40% just this month.
If you’re looking to buy some cryptos, I think now is a great time even though investors are selling. You have to remember a lot of them are selling just to create liquidations to get in at a lower price.
I think is the best opportunity in probably the world to invest it’s one of the easiest things you can do as opposed to something like real estate or starting a business and the returns are so much greater than something like the stock market.