December 14, 2021
Is the Bottom In?
There have been quite a few “bottom callers” on Crypto Twitter today anticipating an imminent reversal of the crypto markets. Will they be right, or will the macro-induced downtrend continue? Let’s look at some promising and some potential warning signs.
Should you have been buying the dip yesterday and today in anticipation of a bullish reversal, or is it still time to be cautious? Well, that depends a lot on your risk appetite and whether you have been taking profits when the market was still hot. To be clear, the risk of making big moves now is still considerably high.
There are several indicators and theories, however, that suggest that some short-term relief could be around the corner for Bitcoin and Co.
However, given the current rather hostile climate for risk assets, jumping headfirst into altcoins could be a risky undertaking, given that smart money seems to be sitting on the sidelines waiting out this uncertain period.
Nike Acquiring RTFKT
Yesterday, the news of Nike not just buying a single NFT (like Adidas did recently) but instead a whole NFT project, RTFKT, has caused quite a stir in the crypto community.
While the initial reactions to Nike’s NFT acquisition have been mostly positive and interpreted as a major step forward for the overall NFT movement, the news also provoked some critical voices:
In other bullish Web 3 news, Shopify hinted at an upcoming MetaMask integration – probably nothing…
To sum it up: The trend of mainstream corporations jumping onto the metaverse and NFT bandwagon has clearly accelerated lately. 2022 is undoubtedly going to be exciting!
Thank you Oliver!