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What a day... by culgin

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rant · @culgin ·
$2.16
What a day...
This is more of a rant. So pardon me. Last night was a complete bloodbath in the cryptocurrencies market. Perhaps I was too naive to think that the impact on traditional financial markets was already seen in the crypto market. 

<center>![image.png](https://files.steempeak.com/file/steempeak/culgin/N9xNwlH9-image.png)</center>

So far I think I have navigated the equities market well. I did some hasty trades but they should be ok in the longer term. In terms of the crypto market, I think I could have done better risk management. The rapid drop in ETH also resulted in many liquidations in the DeFi space. Because of that, I think confidence in DeFi will be taking a hit.

Overall, this was a painful experience. I hope this is the final capitulation in cryptocurrencies...

---

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---

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---

This article is created on the Steem blockchain. Check this series of posts to learn more about writing on an immutable and censorship-resistant content platform:
- [What is Steem? - My Interpretation](https://steempeak.com/steem/@culgin/what-is-steem-my-interpretation)
- [Steem Thoughts - Traditional Apps vs Steem Apps](https://steempeak.com/steem/@culgin/steem-thoughts---traditional-apps-vs-steem-apps)
- [Steem Thoughts - A Fat or Thin Protocol?](https://steempeak.com/@culgin/steem-thoughts---is-steem-a-fat-protocol-or-a-thin-protocol)
- [Steem Thoughts - There is Inequitable Value Between Users and Apps](https://steempeak.com/@culgin/steem-thoughts---inequitable-value-between-users-and-apps)
- [Make my votes count! Use Dustsweeper!](https://steempeak.com/@culgin/make-my-votes-count-use-dustsweeper)
- [What caused STEEM to get dumped? Why I think the worst might be over](https://steempeak.com/steem/@culgin/what-caused-steem-to-get-dumped-why-i-think-the-worst-might-be-over)
- [Steem 2020 is about having a "SMART U"](https://steempeak.com/@culgin/steem-2020-is-about-having-a-smart-u)
πŸ‘  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 36 others
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vote details (100)
@khaleelkazi · 
One hell of a day. That’s for sure. I woke up to BTC down 25% and then tonight saw it tank another 20 so fast. Crazy times β€” stay safe

Posted via <a href="https://steemleo.com/">Steemleo</a>
πŸ‘  , ,
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@crypto.piotr · 
Indeed. Even crazier times ahead of us.
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@culgin · 
It is indeed crazy times. Now there are chatters that there are serious liquidity issues in the US treasuries market.
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@quotes-haven · 
Tread carefully. Best wishes. 😊
πŸ‘  
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vote details (1)
@culgin · 
Thanks!
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@shortsegments · 
It was quite the bloodbath! I think these are the growing pains we will see with heavily leverage derivatives like futures contracts and other similar vehicles, as well as the unpleasant side effect of Bitcoins success in going mainstreet through Fidelity and other Legacy system players, now these new Bitcoin holders will dump their Bitcoin like they dump their stocks. I think these new factors plus others will create new volatility. 

We wanted mass adoption, so now we watch as they learn to trade Bitcoin. 😒
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@steemitboard · 
Congratulations @culgin! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

<table><tr><td><img src="https://steemitimages.com/60x70/http://steemitboard.com/@culgin/voted.png?202003130243"></td><td>You received more than 60000 upvotes. Your next target is to reach 65000 upvotes.</td></tr>
</table>

<sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@culgin) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=culgin)_</sub>
<sub>_If you no longer want to receive notifications, reply to this comment with the word_ `STOP`</sub>



**Do not miss the last post from @steemitboard:**
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