Crypto Update: One last dip coming in a week to a week-and-a-half. Not as bad as they say?
Just a quick comment about crypto...
By now, the average crypto investor...and even some big players... have learned to "take profits" and not throw in one's life savings into crypto. It's just too volatile! Because of the massive fraud in the system that we've seen recently, everyone is running for the hills, or so to speak, in fear of a complete collapse of the crypto market, and in particular, Bitcoin.
However, I'm optimistic that we've got one last dip within the next week to week and a half, which won't be as bad as many fear. It should be followed by some good gains in early December (I'm not talking "to the moon" here) on some of your favorite, more established coins.
I personally have been hoping for some real, meaningful regulation of the crypto space, because as we can see, there's just been too much fraud, much in the same fashion as during the dot-com boom when anything with a "dot-com" on the end became overpumped and overvalued. Plus, we can see the same old Wall Street shysters up to their same old games, front-running investments, taking huge risks with other peoples' money, with absolutely no oversight.
Over the next several months though, I don't see strong oversight from the institutions that should be protecting investors, but rather from some of the more reliable and ethical venture capitalists, and proponents of the crypto space. So, be sure to watch who they're investing in themselves.
Also, it's important to remember that the recent FTX debacle will destroy some of the good venture capital investment that has been flowing into this space, which should stall investments in new coins for at least several months. However, this is not a forever-thing, and also brings with it benefits for established coins/companies who are on the "up and up" who should see solid gains in the Spring, and especially next June.
I still stand by my prediction from years ago that unlike the dot-com era that yielded only ONE Amazon, there will be at least 50 good technology companies that will endure the next few years, and grow to an Amazon-like size. However, as I've also noted, I am planning to be completely out of this space within the next few years (by 2026 at the latest), as I fear the entire global economy will collapse, taking both rich and poor down with it!