Wednesday, November 2, 2022

Is cryptocurrency winter 2022 over?

Youtube of same content here: https://www.youtube.com/watch?v=Gs1XDiOb1ho (if you prefer audio)

We’re in that time of crypto period again.

Where there’s lots of blood on the streets and fear in the hearts of many. Many lost a lot of money, such as in

  • Terra Luna’s catastrophic meltdown
  • 3AC liquidation
  • Celsius bankruptcy

and there are scores more of such exchanges, tokens, coins and projects being killed or rugging people.

The last time I went through this, was when bitcoin (BTC) went into high of $19,000+ before crashing as low as $3,000+ (about 80%+ crash). Yep, that was AFTER I pumped more to buy more BTC at USD 18,000+.

Crydieme.

But it is what it is, I can see similarities today. Bitcoin as high as $69K, and been hovering around $19K (about 75% drop) for a long time now. It’s been wave after wave of negative events and news.

Should we be afraid?

It’s rationale and smart to be cautious and even afraid – it’s not a bad word.

Be cautious, but at the same time, I do not shun or look badly upon blockchain projects. If anything, I still hold onto my conviction that blockchain as well as cryptocurrency will change the world for the better. But there’s an important caveat:

Only the good ones will do that.

At least 90-97% of the blockchain projects and crypto are scams and rugpulls; and the okay-to-good ones, may be poorly managed due to insufficient regulatory measures in place.

It is kinda like a wild wild west world of venture capitalism (or downright gambling, anyone?), but if you choose the right project and at the right time, you may be able to sit on a rocket to earn some delicious gains.


No comments:

Post a Comment