Pressure makes Diamond Hands
I've not been having the best of days in the market but whenever it seems things can't get worse, they simply do. The last few years have been a series of unfortunate events that has culminated into where we are today.
The crypto industry is under the radar and the watchdogs seem to be out for blood. Numerous exchanges, projects and top crypto projects have recently felt the wrath of the government.
I guess we could say that the Denise if Luna was the first piece of the domino that has cascaded into this sewage of a market we have now. When Luna's ambitious move exposed the frailty of the system, this leading to an exploit that was capitalized on, the project pretty much crumbled.
Afterwards, it has just been one thing after the other with FTX pretty much going under, Coinbase in the crosshairs and Binance being attacked numerous times. Alas, once again, Binance is in the bad books of the government and there might be a major regulatory clampdown on the exchange.
There are numerous rumours swirling about the issue and one of them is that CZ will be summoned to a hearing or something like that. In any case, the CEO debunked it through his Twitter, stating that he wasn't actually summoned by the US Senate.
We all know that the United States is a world power but sometimes, I feel like their government likes flexing for the hell of it. If you look at all the major events that have led to this crash, you'd find the United States somewhere in the center of it.
One minute, they're complaining about car on footprint, the next minute it is about weakening the dollar or whatever trumped up accusation they can throw at the crypto industry. I don't even think it will end, in fact, I think this is just the beginning.
We're not leaving
This protracted period of pain will definitely go down in history as the dark ages of crypto. When the dust settles, we will look back at these times and give each other a mental pat on the back for survival.
For what it's worth, there will be a lot of casualties along the way and a lot of people will rage quit entirely. Considering the amount of negative press that crypto has been receiving, it makes perfect sense that investors will be looking warily at the situation.
Every industry worth it's mettle has had to survive its own form of dark age. So, while we're the ones in pain, it is also those that remain that will have the way that ushers in a prosperous future.
SAs we often say, what doesn't kill you, only makes you stronger and the crypto industry is no different. We're in a very difficult period with fear running rampant but always remember that it's pressure that makes diamonds.