When it comes to crypto, I'm sure a lot of you have seen the acronyms FUD (Fear, Uncertainty, Doubt) and FOMO (Fear of Missing Out) mentioned in a variety of articles. None of them is new though since they've also been used in the past when referring to any type of speculative stock investment for a long time. Only now with Crypto's growth and volatility in the news every day, both types of 'fear' have resurfaced stronger than ever.

As with any other type of investment, the key is researching and acquiring enough knowledge to understand the pros and cons of this relatively new asset class. But even more important, is the fact that no matter where you decide to invest your money, you need to be able to sleep well at night. Any investment that stresses you out and/or causes you sleepless nights is probably not good for you.

One thing is certain. No investment is 100% safe, and much less any investment in crypto assets. However, neither is any investment in fiat currencies subject to uncontrolled inflation, fluctuations in value, and government manipulation. Think of Decentralized Financing as a new way to complete transactions and a new asset class that it's still in its infancy and with a lot of room to grow. The same FUD and FOMO was common when the Internet came into our lives three decades ago.

During the Dot Com bubble, a lot of poorly run companies failed right away, and many other companies with solid leadership and fundamentals became the FAANGS that have now become part of our everyday lives. If I told you just 10-15 years ago that you would have to enter your credit card information on a website to book a flight, pay a medical bill or buy groceries , you would think I'm crazy. Today, you can't go about your life without doing it several times a day.

I hope you enjoy our conversation.

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David and I go over our opinion on what caused the crypto crash this week. But above all, we put it all in PERSPECTIVE. That's our keyword for this episode.

Bitcoin (BTC) reached an all time high at $64,829.14 in mid-April, and during this week's crash, it lost as much as 40% in value in just a few hours. Ethereum's token (ETH) suffered just as much if not more after dropping to around $2,000 per token from an all-time high of $4,382.73 set earlier this month.

And of course when two key players plunge, the rest of the players in the crypto neighborhood suffer just as much. But here's where Perspective comes to play...

Despite the recent drastic drop in value, over the past six to eight months, the value of Bitcoin has more than quadrupled since lurking around $10,000 last September. By the same token (pun intended) if you look at the price of ETH in September 2020 it was around $325. Now, AFTER the crash, it's trading at around $2,800 as I type this. True, it's not the $4,200 from a couple of weeks ago, but still, I would take this 8X gain in 9 months anytime, anywhere. That's PERSPECTIVE.

It is also worth mentioning that during this period, major financial institutions including Goldman Sachs, National Bank of Canada, Wells Fargo, JP Morgan, as well as major hedge funds and other public companies including PayPal and Xbox, are adopting cryptocurrencies as part of their assets class or offerings.

If you're just a casual trader trying to make a quick buck over the past few weeks with all the free money received from the government, chances are, you've lost it all and then some more. However, if you're a long term investor with a proper strategy, even after this crash, you're still much better off than you were just 10 months ago, and definitely much better than if you had just parked your money in a traditional savings account.

What goes up, must come down. You just need to plan for it and make it part of your game plan. At the same time, not all crypto currencies, exchanges, protocols are created equal. Solid protocols will survive these types of crashes and come back stronger. The weakest ones, will just disappear and rightfully so. It's no different than any company surviving a recession or becoming a victim of it.

So, there you have it. It's crypto. It's volatile. Get used to it.

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Why SNL has lost its mojo, so much so, that even Elon Musk's appearance can't help bringing it back. His performance was OK and according to Nielsen, the show's ratings were third highest this season, just below the ones hosted by comedians Chris Rock and Dave Chappelle in terms of ratings.

But if the show had a boost in ratings, Dogecoin price went in the opposite direction. Dogecoin’s price dropped from 66 cents to below 55 cents during the show, and fell to 43 cents in the hours following the program. Musk mentioned Dogecoin by making fun of the cryptocurrency, and even his mother, Maye joined the fun. “I’m excited for my Mother’s Day gift. I just hope it’s not Dogecoin.”

Meanwhile, on a more serious (or maybe not) note, Elon Musk also announced on Wednesday that Tesla won't accept Bitcoin moving forward. This just 3 months after Tesla announced that it would begin taking Bitcoin as payment. Why the back pedaling?

"We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel," Musk said in a statement posted to his Twitter account. And by the way, it was also three months ago when Tesla also said at the time that it had purchased $1.5 billion worth of Bitcoin (which it plans to keep). Needless to say, that caused the typical overreaction in the Crypto market with most crypto currencies dropping in value around 8-10%. Haven't we seen this movie many times before?

Moving on to Amazon news, we know that this year's Prime Day will be sometime in June. When? We don't know yet. But sellers are starting to get a little anxious since they need a few weeks to prep and ship their inventory. But not all sellers will be around for Prime Day 2021. That's because Amazon has suspended several top Chinese sellers accounts and their products have all disappeared from Amazon over the past few days. At least eleven accounts that originate from Greater China were suspended, according to Juozas Kaziukenas, founder of Marketplace Pulse.

Among others, Mpower and Aukey were two of the most successful brands native to the American marketplace. According to Kaziukenas, the total gross merchandise value (GMV) of the suspended accounts was over a billion dollars to Amazon.

Amazon didn't comment on the status of the suspended accounts, but said in a statement for TechCrunch that it has "long-standing policies to protect the integrity of our store, including product authenticity, genuine reviews and products meeting the expectations of our customers. We take swift action against those that violate them, including suspending or removing selling privileges," said an Amazon spokesperson.

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