Hi! J’acques here. Today, the Metaverse Times, a publication focused on crypto, written and produced by me, was born. After 9 years in the space, fed up with the noise—it is time.

“The response has been far better than I ever anticipated: Metaverse Times has been read by a 100,000 people.” That is precisely what I will write in a month.‎ 

Feel free to join the ride. First one coming Monday.

In Case You Missed It

The largest mass-liquidation event since the March 2020 crash has just occurred in the market.

Bitcoin for one, went from weekly highs nearing $60,000s to lows of $30,000s — dropping nearly half. With this week’s candle becoming the single largest in history.

Many are now wondering if the “bull” market is still alive and well.

Thankfully; we here, look at things from a much more principle-fact-based and long-term perspective. TL;DR:

1. We are still very much in a bull market, with about 6 months left.

2. It was well-due-time for a crash since everyone was getting too greedy. (Unrealized profits very high…)

3. But also proud work of whales (large holders) manipulating the market for both personal gain, and just plain-old shaking out people before we go much higher in August/September.

4. That resulted, as it always does in widespread mass-fear, more sell-offs and Bitcoin itself being questioned for the millionth time with topics pulled from all pages of the bitcoin-bad playbook.

‎ ‎

Huhh?! What manipulation?

Don’t believe me. That’s kool and the gang. A timeline of Wednesday then:

• Everything is perfectly normal with Bitcoin at $42,000 and Ether at $3,400. Outside of Elon's tweetstorms and some rehashed China FUD from last year, the crypto markets remain stable.

• Whales transferred all together 500,095 Ether into various exchanges and sell. $1.65 billion at the time. In the next six hours, the price drops from to $3,000.

• Whales move all together 13,555 Bitcoin into various exchanges to sell. $535 milion at the time. In the next five hours, the prices drop to $37,000 and $2,600.

• Investors in Europe and the U.S. wake up, noticed the price, get fearful and start panic-selling. Once $38,000 and $2,500 were breached, cascading liquidations started, forcing those with leverage to auto-sell at market prices, driving the price even lower to $30,000 and $1,800, all inside just sixty minutes.

• With help of a lot of buy orders, soon after, these artificially-low prices rise back to $37,000 and $2,800. However, other large whales, perhaps concerned by the price drops move coins to exchanges and sell, causing another drop to $35,000 and $2,200.

• Once the liquidations and whales selling are complete, whales go back in, and get lower average prices a.k.a. cheaper Bitcoin.

Bitcoin is now at $39,000 and Ether hovers around $2,600. With a lot less leveraged money, this will allow the market to move further upward as the bull cycle continues.

The fact of the matter is this resulted in both a lot of investors losing a lot of money (both on paper, and in reality through the liquidations) and many in the general public selling their Bitcoin and other holdings, pledging to avoid crypto for the time being.

‎ ‎

Conclusion

My notfinancialadvice™ is: don’t sell. We’re going much higher from here on out, over the next months and years. I’d say it begins in late August.

According to most, the present bull market will persist until the fall and winter of 21’. New ATHs for ETH will be reached in July/August by my estimation.

All this was is, is a temporary loss (which is not unusual in the crypto space) that we are already recovering from.

‎ ‎

‎Have a lovely rest of your Sunday, and a great new week, J’acques