Daily Crypto NewsEDITION #1024, 05 August

Calm down! Everything's fine, just breathe in and out

Today, in 1949, an earthquake in the city of Ambato claimed the lives of more than 5,000 people.

We are alive. This means we can fix any situation. And a market crash won't break us.

Now, let's get to the important stuff. We value your time. Time is Moni.

What's up?

– Should we even mention the market downturn? Just $ETH alone dropped by -20%.

Why is this happening (theories):

- The geopolitical situation is a mess. Biden and Blinken announced that Iran and Hezbollah might attack Israel on Monday, which is today.

- Big players are cashing out. Jump Crypto, a division of Jump Trading, unstaked $315 million in $ETH and sent it to exchanges. There's suspicion they are quickly offloading crypto because the SEC is investigating them.

- The macro economy is in trouble. The Japanese market lost 22% from its July highs in the country's key index, Nikkei.

It really feels like May 2021, when Bitcoin crashed due to accusations of "not being eco-friendly," which, by the way, involved Mr. Elon Musk.

What should you do?

Calm down.

If you have stablecoins, consider buying more if you wish.

If you're all in on assets, we suggest holding on.

We still think the market will recover closer to autumn.

But we're not giving financial advice.

The main thing is to stay calm. Just stay calm.