It’ll be interesting to see how this pans out. In a way, it’s a good thing for crypto in general. This dip will shake out the scammers and arseholes and invite securities regulation which will benefit things going forward. If crypto is to be mass adopted instead of kicked to the curb, it needs the legal framework behind it.
It’s also seen dips like this before and come back so I’d not say it’s dead just yet.
Finally, the ‘mass adoption of new technology’ curve looks exaclty like Crypto at the moment with the ‘trough of disillusionment’ phase. After that, the curve picks up and things improve (but not to previous highs which are fueled by speculators and early adopter cash)
It’s interesting to note that the ETH network has never been busier, reaching record highs in usage, while it’s price goes to the gutter. I think it’ll stage some kind of recovery. When that will be is anyones guess. It appears there’s a non zero chance of mass securities contamination next. People seem to think we’re in another 2008 crash. We just don’t know the reason why it’s happened at the moment.
Interesting times.
