# Dip Week | Weekly Recap *Author: Ryan Sean Adams* *Published: May 22, 2021* *Source: https://www.bankless.com/es/dip-week-weekly-recap* --- Dear Bankless Nation, DIP WEEK. You hanging in there? ETH at ATHs last week at this time. This week ETH dropped by -50%. đŸ˜± Be honest: [did you panic sell](https://bankless.ghost.io/friday-open-thread-did-you-panic/comments)? If you didn’t sell it’s probably cause you’ve seen this movie before
 - China “banning” Bitcoin (*they’ve done this like [a dozen times](https://www.coindesk.com/china-reiterates-crypto-bans-from-2013-and-2017))* - Elon Musk talking smack (*[who cares what billionaires say](https://youtu.be/5l7POGsDJTY?t=2614)?)* - A [cascade of liquidations](https://www.youtube.com/watch?v=5l7POGsDJTY) (*volatility doesn’t affect holders)* - Every [major exchange went down](https://www.theblockcrypto.com/linked/105366/exchanges-outages-market-volatility-eth) (*[DeFi didn’t](https://youtu.be/5l7POGsDJTY?t=1342))* - A sprinkle of Tether FUD (*whether it’s warranted or not is for another post :)* For all you second and third cycle veterans this all sounds pretty familiar. Even the price action resembles something we’ve seen before. Last year we said it [was just like 2016](https://bankless.ghost.io/its-2016-again-market-monday-lite/). And we predicted this year would [play out like a fractal of 2017](https://twitter.com/RyanSAdams/status/1356737917650169858?s=20). Well guess what? Last week felt just like June 2017 when ETH hit $420 (*euphoria!*) then tanked straight to $150 (*despair!*). I remember people running for the exits then. Mass panic. Price later recovered, then went on to reach 3x all-time-highs that year. No one knows the future but something tells me we’ve got a similar path ahead. Here’s the thing—absolutely nothing changed about crypto’s fundamentals last week. That’s why I think many of you are using this as a [Dip buying opportunity](https://bankless.ghost.io/friday-open-thread-did-you-panic/comments). Do you have long-term conviction? *Be greedy when others are fearful, and be fearful when others a greedy.* Cause the [market is fearful](https://alternative.me/crypto/fear-and-greed-index/) right now—what you gonna do? Here’s what’s lined up for next week: - [MEV Panel](https://twitter.com/BanklessHQ/status/1395792671520825347?s=20) with Phil Daian & Paradigm (*early access [here](https://bankless.ghost.io/-early-access-cryptos-existential))* - We’re show you how to take out an interest free loan - [William](https://bankless.ghost.io/author/william-m-peaster) gives us his best gas saving tips More level ups. Let’s get to the recap. - RSA *P.S. Coindesk Consensus 2021 is next week! Download knowledge directly from Ray Dalio, Michael Saylor, and even our very own David Hoffman. [Get $20 off tickets w/ this link](https://bankless.cc/consensus2021).* --- ### **Recap for the week of May 17th, 2021** --- #### đŸŽ™ïž **[WEEKLY PODCAST EPISODE](https://youtu.be/UEgSq6Rrfb4)** [Listen in Podcast App](http://podcast.banklesshq.com/) | [iTunes](https://podcasts.apple.com/us/podcast/bankless/id1499409058?ls=1) | [Spotify](https://open.spotify.com/show/41TNnXSv5ExcQSzEGLlGhy) | [YouTube](https://youtu.be/UEgSq6Rrfb4) | [RSS Feed](http://podcast.banklesshq.com/rss) --- #### **ACTION RECAP** - **Execute** any good market opportunities you saw in [Market Monday](https://bankless.ghost.io/culture-vibes-market-monday/) - **Learn** [how to use Polygon](https://bankless.ghost.io/how-to-use-polygon/) đŸ”„ - **Build** [ultra sound conviction on the next innovation in crypto](https://bankless.ghost.io/ultra-sound-conviction/) - **Read **[why institutional investors love DeFi](https://bankless.ghost.io/institutional-investors-defi/) - **Be honest: **[did you panic sell?](https://bankless.ghost.io/friday-open-thread-did-you-panic/comments) #### **WATCH & LISTEN** - đŸŽ™ïž Listen to [Crypto, Legacy, and Value | Mark Yusko](https://bankless.ghost.io/-crypto-legacy-and-value-mark-yusko) - đŸ“ș Watch [Rollup: Dip Week | Rise of Polygon | Erratic Elon](https://bankless.ghost.io/-rollup-dip-week-the-rise-of-polygon) - đŸ“ș Watch [Udi Wertheimer pitch BNB as hyper sound money](https://www.youtube.com/watch?v=BkqBCCPacN8) đŸ”„ - đŸ“ș Watch [Meet the Nation: Sovryn](https://www.youtube.com/watch?v=6iYzOtQkfnA) #### **METAVERSAL **đŸ§™â€â™‚ïž - [NFT builders aren’t slowing down](https://bankless.ghost.io/nft-builders-arent-slowing-down) - [How to research NFT projects](https://bankless.ghost.io/how-to-research-nft-projects) đŸ”„ - [NFTs, Legitimacy, and New Possibilites](https://bankless.ghost.io/nfts-legitimacy-and-new-possibilities) #### **BANKLESS DAO **🏮 - [On Bankless Seasons
](https://forum.bankless.community/t/on-bankless-seasons/642) đŸ”„ - [Making $BANK: Episode 1](https://anchor.fm/making-bank) - [Bankless Swag Drop #1](https://cryptoculture.substack.com/p/bankless-swag-drop-1) - [Bankless DAO Weekly Rollup](https://banklessdao.substack.com/p/banklessdao-weekly-rollup-3) *Bankless DAO weekly recap dropping later today!* --- ### Weekly Subscriber Perks đŸ”„ *Bankless premium members get access to perks like these:* - **BADGE PERK: **[Bankless DAO airdrop on May 31st. Claim your badge!](https://snapshot.org/#/banklessvault.eth/) - Early access to [Crypto’s Existential Thread | MEV Panel](https://bankless.ghost.io/-early-access-cryptos-existential) *[Launch your own raffle](https://poap.fun/) for Bankless Badge holders! Go ahead. We can’t stop you.* [Get Bankless Badge](#/portal/signup) --- #### **Charity Stream: **[Udi Wertheimer Pitches BNB as Hyper Sound Money](https://www.youtube.com/watch?v=BkqBCCPacN8) **We’re now live streaming State of the Nation—[join us at 2pm EST](https://www.youtube.com/c/bankless) every Tuesday!** --- đŸ—žïž [Latest Weekly Rollup.](https://www.youtube.com/watch?v=5l7POGsDJTY)*Download the week in crypto to your brain in this 25 min show.*