My opinion has not changed. In the long run, the value of cryptos will resemble a technology-adoption S curve. The December/January rally attracted a lot of new, easily frightened investors who don’t understand crypto.
So what happens next?
The fact that crypto currencies allows us to do things not previously possible remains true. A lot of projects (good and bad) received insane levels of funding in 2017 and 2018.
Some of them will create value. As this becomes obvious (or perhaps sooner), expect another round of Euphoria, tempered by memories of the January/February crash.
And then reckless euphoria.
And then another crash.
