With the number of various cryptos approaching 20,000, one has to ask how much innovation is really needed to get to the utopia that crypto aficionados talk about, i.e. the future of money. One of the most vocal proponents of this future technology, decentralized and all the other buzzwords included is Terra (“ticker” symbol Luna). Let’s take a look at Terra’s present which is an ominous sign for the future of crypto.
In this update we provide our Bearish Market Outlook. We believe that the markets are way overextended and that traders and investors should now prepare mentally and financially for a period of massive volatility. We look at a number of different markets and we provide our opinion on them.
After another negative press release this morning, the major cryptocurrencies fell towards crucial support levels. According to a Zerohedge article, quoting CNBC, Japan’s chief regulator launched a probe of crypto-exchanges, prompting the largest to halt new account creation, thus sending the crypto market considerably lower. The press release stated that Japan’s…