Is Crypto Down and Out ?
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Prices are sliding, Bitcoin is back to $7,500 where it was before all of the hype from Facebook.
To me the hype and excitement of crypto is gone. The process is simply way to freakin slow for adoption and I believe a lot of people are feeling this and just moving on to other investments.
With a recession looming on the horizon as well people might also be pulling their money out and profits to put it into a savings account or an area that is much less volatile then cryptos.
Steems price has tanked to record lows, the traffic to the site is lower than ever as it continues to slide in rankings.
To me this honestly looks to be the end of crypto or a very long decline in prices. I see nothing anymore that would excite me to buy back in and glad I sold over 90% of my holdings this year.
What are your feelings ?
Well as I said on another thread, seems the more there is crypto adoption in one form or another, the less people care about it (at least as a buy and hold investment.) Something seems to have changed, perhaps culture itself.
I invested pretty heavily on the way up to 10K and still had been buying weekly until a couple weeks ago when it got through my thick head that maybe I should put my money somewhere a little more sure. I suspect I am not alone.
I expect a climb back over 13K pre halving, then a crash again and maybe a crawl back to an ATH number this time next year. Still the possibility to double ones money in a short time, but I don't expect Lambos raining from the sky. At this point all I expect is ultimately not to lose money on BTC.
But the alts are a different story. I expect 90% to disappear (including Steem) in 2 years.
Eh. Well I will still be here. It's weird to say it, but this has become less about value to me these days and more about something to do... at least as far as steem goes.
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Yeah I have that feeling as well its more of a hobby now more then anything. Might just be one of those days though where I feel down about crypto. It happens lol
Strongly disagree:
https://99bitcoins.com/bitcoin-obituaries/
Not saying it's dead but the hype behind it seem rather dead lately.
Not saying it's dead
But the hype behind it seem
Rather dead lately.
- bitcoinflood
I'm a bot. I detect haiku.
Other Investments?
Like savings accounts providing minimal interest or stock funds that are based on unlimited printing of fiat? Real Estate which most people don't have the funds or time to own? Gold which has its burst about every 15 years?
Unfortunately we got sucked into Bitcoin $20,000 much to early in the cycle...it is just starting to find the infrastructure in place to become a main stream choice....is it still a risk....certainly....but its a risk I'm willing to stick with compared to the alternatives...
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