My original thinking was that this bear market won't be that brutal, since the bull market wasn't that strong.
but the more I think about it, the more it looks like it can be absolutely crushing.
Many players in the industry are fundamentally rotten, and if they go under, it creates a cascade of liquidations.
Two examples:
(1) Gemini went public earlier this year. Their books look absolutely terrible. The Winklevoss twins went full retarded in 2021 with the jpegs and the scammy Earn program. They can't figure out how to run the exchange at a profit. It seems like no matter how much of their own money they throw at it, it just keeps bleeding.
This is particularly relevant to Pirates, because if the Winklevoss twins are in trouble, they might force sell Zcash. Zcash getting rekt in the bear market means ARRR will also get rekt, that's how forks work.
(2) I haven't looked closely into Saylor, but I know he is levered up big time. Strategy going down and being forced to sell means it could create much lower prices than people think.
In any case, all of this is great news for those on the sidelines just looking to start buying bottoms next year.
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