Bitcoin is now below $7,000 - a level it first hit in October 2017 - down 67% from its record high in December.
Ethereum is worse - down 75% from its highs and back below $400, this is the lowest level for the second largest crypto by market cap since November 2017.
One must remember that the aftermath of the dotcom bubble also affirmed that truly innovative organizations and technologies could weather the storm. Companies such as Amazon and eBay proved that pairing novel ideas with good business acumen can lead to success. Surely, the situation today with crypto and the environment of dotcoms from nearly twenty years ago would have their differences. Ventures must be able to navigate these nuances in order to make the best possible decisions moving forward.
Whether or not crypto ventures will share a similar fate to dotcoms remains to be seen. At least for now, crypto stakeholders have a chance to write a different story.
Bitcoin has limitations, but at least it does exactly what it's supposed to do, and has an eight-year track record of doing just that.
So just about a year ago all the cryptos seemed to just take off to the moon together.
Now since the pin was pulled they are ALL going down together more or less in lockstep. No real reason or division just ALL going down together.
Revelation 13:16-17 And he causeth all, the small and the great, and the rich and the poor, and the free and the bond, that there be given them a mark on their right hand, or upon their forehead; and that no man should be able to buy or to sell, save he that hath the mark, even the name of the beast or the number of his name.
Can you spare us the religious bullshit please? I can also write you a text with various metaphors about human nature that in 2000 years time will have some believers convinced that I was also some sort of god.
Good luck getting any reasonable answer.
No manipulation in crypto either, right? We heard that all the way to $19K for BTC around here.