My friend texts me: “Crypto will die”. An insider reports 95% of projects “have already died”. Crypto Twitter is silent; Crypto LinkedIn is now deer videos.
Bear markets stink. How long will it last? Who knows. Can BTC go to zero? Why not.
(Do your own research, please. This isn’t financial advice.)
Lehman went to zero. AIG. Bear Stearns. Delta once went to zero. Any stock could go to zero. Why can’t a cryptocurrency. I’m open to any scenario including downtrodden ones; I’m agnostic.
The more people pound the table about things – predictions – the less I listen to them.
Two quotes: Keynes – “Markets can stay irrational longer than you can remain solvent.”
Buffett – “Widespread fear is your friend as an investor, because it serves up bargain purchases. Personal fear is your enemy.”
These quotes were made long before Satoshi came onto the scene. They have nothing to do with BTC. They’re just quotes. I don’t make predictions I just make observations. Those are still permissible under the 1st Amendment, I believe.
Plenty of folks are dispirited. The Crypto State of the Union, then, isn’t grand.
This isn’t the first bear market the world has ever seen and it won’t be the last one, either. Whatever you do, don’t take it personally.