Opeyemi is a proficient writer and enthusiast in the exciting and unique cryptocurrency realm. While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies.
Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. “Looking” is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi’s favorite part – in fact, far from it.
Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. “This emphasizes the intricacies of blockchain technology and the cryptocurrency market,” he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger.
When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi’s Spotify Daily Mix.
Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books – ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K.
Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that.
Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi’s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings.
Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time – he believes that “whatever is worth doing at all is worth doing well.” Hence, you will always find him striving to be better.
Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon – cryptocurrency. He goes to bed every day with a smile of satisfaction on his face, knowing that he has done his bit of the holy assignment – spreading the crypto gospel to the rest of the world.
Crypto Corrections Are Normal
Cryptographer and Bitcoin pioneer Adam Back said that prior bull runs had around half a dozen 30% drawdowns.
“In fact if anything, recent draw-downs seem to be less deep, but people forget the normal bull market pattern,” he said before advising against panic selling.
reminder, zoom out. prior bull runs had half a dozen -30% draw downs too. we’re at about -26% (-27% earlier).
in fact if anything, recent draw-downs seem to be less deep, but people forget the normal bull market pattern. don’t panic, buy the dip. or buy a bit of $CMSTR with… pic.twitter.com/vBOjFN1TOn
— Adam Back (@adam3us) July 5, 2024
“History is repeating as we speak,” observed analyst ‘Rekt Capital’ who added that if patterns repeat, “Bitcoin could peak in this cycle in mid-September or mid-October 2025.”
He suggested that this correction is needed for market cycles to resynchronize with historical patterns.
“The longer Bitcoin consolidates after the Halving, the better it will be for resynchronising this current cycle with the traditional Halving cycle.”
Capriole Fund founder Charles Edwards commented that this market correction was “well overdue” following “Bitcoin’s all-time longest winning streak.”
Analyst and trader ‘il Capo Of Crypto’ told his 859,000 followers on X “At this point where many are panicking and selling, I don’t think it’s appropriate to flip bearish/sell. It’s time to zoom out and keep a cool head.”
Massive Opportunity
Crypto analyst Miles Deutscher commented, “This is one of the most obvious long-term setups I’ve ever seen.”
He acknowledged the short-term selling pressure from the Mt. Gox redemptions and the German government offloading the asset.
However, he also observed several longer-term bullish factors such as institutional buying via Bitcoin and Ethereum ETFs, an upcoming election in the United States that could shift the crypto outlook, and a $16 billion payout to customers from FTX.
“Feels like a massive opportunity,” he said.
Reflexivity Research co-founder Will Clemente added that with late-year seasonality and an election, liquidity is presumably on crypto’s side. “There will no longer be major supply overhangs that have been looming over the market for years,” he added in reference to these redemptions from defunct exchanges and government selling.
The flip side of the panic around Gox/Germany/Silk road BTC coming onto the market is that come late Q3/Q4 with seasonality, election, liquidity presumably on crypto’s side, there will no longer be major supply overhangs that have been looming over the market for years.
— Will (@WClementeIII) July 5, 2024
In a post on X on July 5, Bitcoin pioneer Samson Mow said that there was no need to panic because the selling pressure was negligible.
“Max pain is weak hands selling their Bitcoin now, expecting a long drawn-out wave of selling from Gox and Germany, but that sell pressure turns out to be negligible.”
Crypto markets have lost 15% so far this month with total capitalization falling to just over $2 trillion in a four-and-a-half-month low.
