People that got hired from Wall Street are leaving, one of the main reason is because the expected institutional wave never came (just like I explained 1 year ago...).
Crypto is getting reverse adopted, meaning I keep seeing more and more of the few that accepted it, remove it.
Recently it has been Twitch. They used to accept Bitcoin, no more!
When markets bottom the news is bad, the opinion part is bad, but the actual fundamentals are good and bearish news and opinions are greatly exagerated (for example when Microsoft bottomed in 2008 it fired a few people and some people said it was the end and it would go very badly, but their earning to price ratios were as good as ever, their growth potential still good, they were still selling alot)
With crypto it is the opposite: Everything about it is aweful, wash trading, exchanges ceo's losing their keys/dying, miners threatening to 51%, underwater very large holders (big miners) that potentially will have no choice but to sell, adoption is reversing at an accelerating rate, all the smart money left only innexperienced ignorant delusional baggies left, etc.
We're gonna make it my bobros!
The 2 issues are:
- Since the people left are delusional baggies and not exactly the smartest tools in the shed, it could force bears to wait a long time. And maybe they buy more deadcoins each paycheck...
- The price could get pumped but I do not think this is super likely, the fake exchanges probably won't have an impact on Bitmex Coinbase etc, the funds in crypto are a risk, do they have money left thought? Maybe they get desperate.
Biggest risk is shorts on Bitmex get killed throught funding as this ponzi freezes for ages.
Hoping there's still a couple of people with common sense in this that would rather take a little loss now than wait years and lose a little to inflation every year and eventually lose a moderate amount to everything in a really long time.