Is the Crypto Winter of all Winters here?

 Three different situations have come to light in the last week or so that demonstrate what I laid out in my last post on the crypto-industry. Having gone through the dot-com bust as a day trader 20+ years ago. I can't help but see the very same patterns taking place.

Point one, 2022 has been a sad year for Crypto.com. From a high in the 88 cent range at the end of November of 2021, CRO has now sunk to less than 18 cents. The $100 million spent in advertising, and the $700 million spent on sponsoring a sports stadium is certainly reminiscent of the furious way many dot-coms tanked in the early 2000's. Burning cash to gain customers seemed like a good idea... until it wasn't. 

Point two, Coinbase announces to it's customers that they'd be at the back of the line if the company was to go into bankruptcy. A company already known for piss poor customer service and ratting out it's own customers to the government. I don't see a bright future ahead for Coinbase or the account value of anyone who has an account with them.

Point three, the headline I just read from three hours ago says "Cryptocurrency Luna now almost worthless after controversial stablecoin it is linked to loses peg." There's rumors that Blackrock may have been acting behind the scenes. I have no research to substantiate that, but it wouldn't surprise me.

The Global Crypto Market Cap that was at nearly $3 trillion back in November of 2021 has already contracted down to $1.25 trillion and with the above news about to be splattered into the news stream for weeks and months to come, as the worse part of those stories is yet to be clearly related. If it breaks below $1.2 trillion, as technical traders know, we might fall far below that... maybe to a range around $330 billion. Which would be almost a 90% haircut from the highs. If that happens, it will be very clear, the beginning of the replay of the dot-com bust for crypto is here.

Not to mention, it gives the government and those behind it (I'll call them the anti-culture), the excuse to get their bloody hands on the industry... and launch it's answer to their own ailing currencies and debt bubbles of gigantic proportions. What the anti-culture has in mind for crypto I'm not privy to, but I suspect we will see government versions of crypto backed by legal tender laws that make all the private alternative currencies extremely restricted.

The suggestion I put forth in my previous post, that 95% of crypto will likely be gone is looking much more likely. Prepare for a very cold winter in the crypto arena... but also be aware that there are seeds for the future to be looking for. Actual business models and crypto-concepts that provide real value. They are out there and there are more to come! But it's not the crypto that makes them valuable, it's the ideas, the people's character behind those ideas and the organizational models they have that are equitable for everyone involved. Find those!

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