I Almost Forgot!

While the rain was hitting the windows, the wind was blowing hard around the house and I was burning a drawing in wood with a hot pyrography pen, I suddenly thought, "The Market Musings! It's Monday". And with that thought, reality dawned on me. Monday has become a day for me to review the financial situation. But to be honest, I don't feel like doing that these last few weeks, because things are looking anything but rosy.

Crypto is letting me down. That's how you can say it. It's not that I don't own crypto assets. On the contrary. But is it of any use to me? No, not at all at the moment. I can't do anything with it at all. It's either stuck and I only get a tiny bit in return every day, or it's way too low to even think about selling, and I have no options to top up because we spend every euro more than necessary in real life. to have. This is unfortunately the harsh reality at the moment. I expected my portfolio to take a dip when the bull run ended so suddenly, but for it to be so deep... no, I didn't expect that. And the fact that life would become so expensive is also a disappointment.

Dealing With The Situation

It is what it is, and the only thing to do is: "Deal with it", that also means that I still have to ensure that I stay informed of developments in the crypto market, but also that I am looking for opportunities outside of crypto to earn some extra money. And the latter means that I spend much less time online than I used to. So perhaps that also makes me less aware of new projects, the latest news, crypto gossip, etc. So be it!

Bitcoin ETF's

But with all that said, let's take a quick look at some crypto-related news. First of all, of course, how are the Bitcoin ETFs doing? The hype was great, the expectations were great and what is the reality in the end? The Bitcoin ETFs already manage around USD 4 billion worth of Bitcoins. Now it remains to be seen whether these will mainly be "Holders", or whether the market will be heavily manipulated. With this kind of capital, you can of course go in any direction. Because so much has already been written about it, I won't go into it any further. So let's just say, the ETFs do appear to be catching on. We'll see what the future brings.

Should You Sell ADA?

There's more news, and one notable piece of news I saw was that some think tank called K33 Research has made a report on ADA. Unfortunately for Cardano, it wasn't so positive in the end. The report was therefore entitled "Why you should sell all your ADA". I didn't look up the report (I don't have ADA), but the bottom line was that the usability of the Cardano Network was in question. And that all 90,000 transactions per day on the Cardano Network are speculative with no real applications, unlike Bitcoin and Ethereum, for example. Of course, Cardano enthusiasts do not agree with this conclusion ... and fortunately for Cardano owners, the price has held up well. But perhaps it is something to delve into a little deeper if you have ADA in your portfolio. Like I said, I don't own it myself... so I didn't feel like trying to figure this all out. As it stands now for me, it will be a long time before I can buy something to invest again. A waste of my time, which I need desperately enough for other things, to now dive into this.

Ah, There's DOGE Again

Then again there is news about an old acquaintance. Yes, the most famous dog in crypto, DOGE, makes himself heard again. And that has everything to do with the speculation that DOGE might be implemented in X's new payment system. It may not be the case. It is a bit funny how often DOGE enthusiasts link something that has to do with Elon Musk with DOGE. Could this be called a typical case of Hopium? Maybe I'm just too level-headed to let myself get sucked into this, but I would seriously wait until it is certain that DOGE can be used to buy an X membership or pay for other things via X with DOGE. Of course, I have to admit that it would certainly not be a real surprise if DOGE were implemented in "Xpayments". Elon has done this before for Tesla Merchandise. And he has never dropped his support for this memecoin. In that respect, it is perhaps logical that people certainly expect this. But to start speculating now while the payment system is not expected until mid-2024? I don't know... And yes, I too am aware of "Buy the rumor, Sell the news". But somehow this is a piece of Hopium for me...

Oh well, it must have something to do with the fact that I have lately come to a very good understanding that I should only invest in crypto what I really can afford to miss. And for me, that means that I can't invest anything at the moment. Sad, but it is reality.

Now time to take the dogs outside. The rain has stopped and the sun is even shining... so let me quickly take advantage of that and give the dogs what they need. Then the wood waits to be burned. Enough to do! The crypto market is still doing its thing without me!

I wish you all a nice week!