Bye Bye Elon, Hello El Salvador!

Crypto markets have been wallowing in the doldrums since since the May 19th collapse – embodying the famous trader saying – Sell in May and go away!
Volumes are weak on international exchanges, negative news headlines are numerous, noobs that bought Bitcoin and Doge at ATHs in April have vanished, and sentiment of ‘Oh Gee’ crypto twitter accounts has turned negative.

F.U.D.

Recent Top Stories in Crypto:

• Tether (groundhog day!)
• Binance (banking troubles)
• Stock token ban by Hong Kong
• Jerome Powell/ Fed Coin
• GBTC July 19th largest Lockup/expiry

As you can see from the red on the chart and the numerous negative headlines, it is no surprise that sentiment has turned very bearish out there.

In fact, the latest BTC drop on the 19th (GBTC lockup), has pretty much confirmed in the minds of many Crypto traders that the Bitcoin and Crypto Bull market is over.

Do you share this sentiment right now?

We’re not saying that KJ is wrong on this but we will make a few observations…

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