The Fear Demon’s Having a Party — and Everyone’s Invited!
Greed and Fear sit like two little devils on the average investor’s shoulders. One whispers into one ear ‘GIG!’ (Greed Is Good!) On the other shoulder, the other whispers ‘FOLO!’ (Fear Of Losing Out).
We’re seeing the upheavals that are the early stages of the death of the current financial system.
DeFi is not directly connected with it. DeFi may actually be the safe investment rather than the speculation. I’d say that the regular stock markets being manipulated, are a poor speculation at that.
The Bitcoin selloff was from Wall Street related margin calls and investors selling off their BTC so they can cover their margins on stocks. In this case, the roadster is his position in Bitcoin…but he lost on the stock market. That’s what took the BTC price down — and the rest was a panicked rush for the exits of those who were trading, not investing for the longer term.
If it can be sold or bought quickly — it’s bound to be volatile!