How long will this market last?!
Economists say: The market can remain irrational longer than you can stay solvent.
Irrational can go both ways, I just want to jump into the other track
It will be interesting to see what happens in the next few months.
If we’re still in the middle of the bear market when Shelley starts rolling out, I wonder if it will have any effect on the price of ADA.
It will only moon with real world use case for now
I’ve stood by this viewpoint for the last year or so…
I truly think that big money does not want to see Bitcoin or cryptocurrencies succeed. Unfortunately for them, because of the decentralized nature of Bitcoin, it isn’t all that easy to forcefully interfere with the protocol. So if they can’t physically destroy it, then the only option is to destroy the perception of it. So what’s the best way to do that? In my opinion, you make a lot of people lose a lot of money!
The last run-up in cryptos was all retail investors depositing spare cash into exchanges. We saw a sizable increase, but many folks didn’t have the technical knowhow and others didn’t have access to any significant amounts of cash. However, this can all change quite quickly with the introduction of Bakkt and ETFs. The real money will flow in when US citizens can easily log into their 401k account at work, select a basket of cryptos to invest in, and suddenly people’s retirement accounts are moving from equities into crypto.
I don’t expect this frenzy to last long. Much like what happened in Q1 of this year, I think we will see a massive downturn. The difference being that instead of losing a spare couple thousands of dollars, people will be losing significant value from retirement and savings accounts. The news will be littered with stories of people losing everything because of crypto. People will be bitter for years to come. In all of these people’s eyes, crypto is a scam and not worth touching again. These individuals won’t buy crypto again until there is a real use case present.
So that’s my theory… I could be way off. I could be spot on. But I have a strategy in mind based off of this theory!