For the 900th time, the crypto bubble is 'popping' or it has already 'popped'. The speculators and bag-holders are getting flushed and wiped out once again just like in 2017. This is before regulations are coming and it is happening again.
Meme-coins and other useless ERC-20 tokens will collapse and become abandoned where as the utility in many other cryptocurrencies (coins not tokens) will continue to survive.
Until then it has to go down before another drive higher which will probably happen after another Bitcoin halving, most likely in a couple of years time.
Would have expected another run after the next halving but we’re in uncharted territory honestly. Bitcoin and crypto only came about in the post 2008 era of easy money. If that spigot dries up, its not certain they will keep going up every halving like they used to.
On the other hand, after the current central bank shenanigans, trust in centralized institutions is even lower and non-centralized currencies become more attractive.
There's no shortage of easy money, there's shortage of confidence. Every single crisis the already wealthy become even more wealthy. Right now they're consolidating and derisking, wait a few years and the chips are on the table again.
Besides the wealthy, there's the army of believers putting in small money.
For the 900th time, the crypto bubble is 'popping' or it has already 'popped'. The speculators and bag-holders are getting flushed and wiped out once again just like in 2017. This is before regulations are coming and it is happening again.
Meme-coins and other useless ERC-20 tokens will collapse and become abandoned where as the utility in many other cryptocurrencies (coins not tokens) will continue to survive.
Until then it has to go down before another drive higher which will probably happen after another Bitcoin halving, most likely in a couple of years time.