Cryptos been in for a rough month and these last few days have been even worse. In fact I believe we are in for even more rough times into February. This comes as governments continue to crack down on crypto making it confusing on the rules to investors and people, media and government starting to spin a negative narrative on cryptocurrency once again.
Have you noticed something?
History repeats itself and with crypto we see this repeat of history faster than any other topic in my lifetime. It's mainly because cryptocurrency is brand new. In just 10 years it's gone from a few bucks to now threatening world governments and destabilizing those with vast wealth allowing for others to finally have a fair chance at it again.
These consistent plunges just keep coming but have you noticed that every time we come out of it and it loses focus it bounces back bigger and better than ever?
2022 very well might be a crypto winter and possibly 2023 as new regulations kick in. It could be a long winter of oppressing's crypto prices for the next 1-3 years but that's ok we always find a way to bounce back bigger and stronger than last time.
The biggest move needs to happen in terms of finances of crypto and the blockchains themselves being decentralized.
Until that happens crypto is always going to be under threat from world leaders and those with vast wealth because simply put they don't want to relinquish that power and instead would rather continue to take that power away from others.
Instructional investing and the push for it to me was one of the dumbest things I've ever heard from the crypto world. Sure it would pump the price but for how long and for? and at what cost? Regulation, influencers pumping and dumping it, meme crap and so much more.
Let's be honest this correction was due for a long time. Whenever people start buying a bunch of weird things that are pointless there comes a time when its all going to blow up in your face and now is that time.
Even after all of that crypto has always bounced back however and it's come back stronger and more robust then the pervious correction. Many of these corrections often last 1-3 years however they have been shorter lately as it grows. In fact 2021 saw a quick correction which we bounced back from in 3 months and then held for a month. We are not kicking it into correction zone yet again. However we should see new highs.
For example in 2021 the flash crash correction brought bitcoin down to $31,000 and Ethereum went from 4k down to $1,800 before rebounding to a new high of nearly 5k. Since late/mid November however crypto has been in a downward slump and has just recently flash crashed. Where does that put us? I believe we will see around $2,000 Ethereum and $31,000 Bitcoin and perhaps hold there for a while till the FUD, hacks, meme and other junk gets filtered out. From there I highly recommend keeping your eyes out for new innovative projects and those geared towards being decentralized. These will most likely take the forefront of a new rally of crypto. We will either see a rally in spring or I fear we could be waiting for another 2-3 years before we see the next.
What are you thoughts? Does this crash feel like that of 2021 or 2018?
