5 takeaways from this week’s crypto crash and how I’m navigating the wreckage

The crypto market cratered this week destroying dreams, providing hope for investors late to the party, and filling millions of market participants heads with question marks about what comes next. The crypto naysayers had their arguments cocked and loaded waiting to pounce and flaming arrows in the wounded traders. We also have the crypto influencers who are trying to sooth their followers with hope that this market will keep going and they can still continue their gravy train. And don’t forget about the technicians who correctly called the drop. After all, they did say that the markets could go up, down, or sideways. My crystal ball broke a couple of weeks ago so I’m not going to try to guess where the markets are going in the near term, but I would like to draw some conclusions from what we saw and how I see this impacting the markets moving forward. This is not financial advice and I am not a financial advisor. These are merely my thoughts, opinions, and observations.

1. Bitcoin isn’t going anywhere this cycle and still remains the crypto king

When Bitcoin sneezes, altcoins get pneumonia. The entire market got wrecked this week. Diversification offered little help and altcoins took more losses for the week than Bitcoin did. Worse yet, it’s looking like Bitcoin is going to have to…