The whole cryptosphere is talking. There's going to be a recession. The banking system is going to collapse. BRICS!
And to that I say, the first half of every market upturn is filled with FUD. Most people miss the first half of the bull market because they are sure the other shoe is about to drop. And it almost never does.
The Fed is basically done raising. The jobs numbers are still coming in strong. Inflation is dropping. The recession is likely over already. The election year is coming. The NASDAQ is hitting 52 week highs. Meme coins are back. NFTs are growing in popularity again. No one is shocked by wars anymore. The economy is still opening back up after covid but now has a whole second economy, and companies are in their starting phases of making more and saving more with AI.
Risk appetites are heating up and all I keep hearing about in crypto is that we are surely going to have a recession and that for some reason, we have to wait for the bitcoin halving for crypto to move again.
I'd posit that we are in the bull run right now. Bitcoin is up 66% in 2023 and its not even at its highs for the year.
NASDAQ up 40% anyone?
Or here's one I've been threading about today. A meme coin on Algorand that is up 10x since I bought it 12 days ago. Not exactly bear market behavior.
The point is, while everyone is sitting around talking about the long bear market, big and small markets are screaming higher. And now, there really isn't anything left I can think of to hold the market back.
Seriously, what is the bear case?
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