Crypto prices are maintaining a bullish trend in the face of a banking crisis, a concerted effort by the US government to shut down crypto on- and offramps, and a slew of concerning macro signals world wide. We're not here to cheer for other people's misfortune, but can't help notice that for once, crypto is fullfilling its initial design goal: to be a safe haven in times of financial turmoil and erratic government behavior. 🏴☠️
Maybe, this bullish phase isn't the start of the "big one" yet. The bear market is still young compared to past bears. We keep a conservative exposure mainly to $BTC and $ETH, but might punt a few alts later if the trend continues to be strong.
There's a big event upcoming for Ethereum. The Shapella network upgrade expected April 12th will enable withdrawals from the proof of stake layer. While we expect some turbulences and occasional bouts of FUD, Shapella marks another important step towards the completion of Ethereum's switch to proof of stake. With lots of growth on Ethereum's base layer and in scaling solutions like Arbitrum, and with the new deflationary mechanisms built into the proof of stake protocol, Ethereum is well positioned for the next expansion.
Good Luck 👍