We have decided to sell all our positions because Genesis and DCG pose huge threat to crypto liquidity and volatility.
If you are not aware what is Grayscale, Genesis & DCG you should read up on it. It's a huge mess and SEC is investigating DCG, which owns Genesis. ICONOMI Post sections are to short to be able to explain entire case in just few words.
Genesis has recently fired 30% of it's work force and it's tensions with Gemini exchange continue to heat up. This has been a red flag that something big in negative way is comming for this institutional titan.
If Genesis falls this will be much bigger liquidity loss than FTX.
DCG is a crypto titan on institutional level and Genesis is owned by DCG.
DCG owns Grayscale and Grayscale has it's own issues aswell.
Like we said many times these liquidity issues have arisen due to greedy and overeleveraged institutions. Things will get better. No issues have arisen on protocol level on Bitcoin, Ethereum, Cosmos etc...
The technology will stay and the protocols that survive this shitstorm will be even stronger and bigger next bull run.
Our job is now to survive this institutional capitulation and deleveraging event.
Macro picture looks bad as well, earnings are in downfall, revenue streams are expected to be quite bad compared to previous quarters.
What's our plan for this year?
I'm expecting stock market to correct even more this year.
Central banks are over tightening monetary policy, like they did in pandemic times they overexpanded money supply. This will backfire with recession if they don't stop.
We plan to re-enter crypto position after DCG, GENESIS & GEMINI case is resolved.
After we buy in, we'll continue to Dollar Cost Average in every single month.
Crypto has had a reset but remember after rain there's always sun 😉
The bull run will be back because technology is revolutionary and next bull run will be led by usable, problem solving protocols.
We've survived 2018/19 and we'll survive 2022/23 and get back stronger ✅