[This article was posted on Feb 5 this year. However, it is relevant (again) today.]
Yes crypto is in crash mode right now.
Here’s why I am not concerned.
1. I have not invested more than what I am prepared to lose. You shouldn’t either.
2. What we are seeing reflects a globe coming to grips with the biggest financial revolution since they plugged in the internet.
3. What we are seeing is the result of an entirely new generation of previous non-investors trying figure out how this thing works.
4. What we are seeing is a reminder that this thing is just getting started and that crypto is a long game.
What We Are Going To See
1. In the next week or two, after everyone has had a chance to go back to the white papers of their favorite crypto coin, people are going to remember why they bought into the crypto market in the first place, and prices are going to head back up.
2. In the next five to ten years we will witness the birth of globe changing companies built with crypto and the blockchain in mind. They will be the Apples, Microsofts, and Amazons of the future. [Update to this post: See this corroborating article]
3. We will begin to see some high-powered financial institutions and play makers adopt an “If you can’t beat them, join them” approach and figure out an entry into the crypto future before it leaves them behind. [Update to this post: See this corroborating article and it’s links.]
4. More and more businesses will begin to except cryptocurrency as payment. Once that happens—get out of the way!