What is the market telling us?
Most times when you decide to take action, in the markets and in life, you first decide and then go find reasons for doing it.
That’s what I’m feeling now. I really feel like selling it all and waiting it out, directly contradicting the rules I designed beforehand.
There are a few reasons for that. One is exemplified by this tweet:
The way markets react to news is a bit of a tell on how the participants are more inclined to react. If good news is irrelevant and mildly bad news is followed by dumps, that goes to show the market is more inclined to heed bad news than good. The opposite was true in September/October 2020.
I feel like resetting and selling it all, but instead, I took profits in 50% of NFTX (in ETH). It kept going unaffected by the latest developments and it’s at a market cap of almost 20M, so borderline small/midcap, and it’s at ATH in ETH and BTC terms.
I’m following my gut feeling and heeding the market, but changing a bit the rules I stipulated before.