Uh Oh!! Did the bottom just fall out of Crypto?

 I'm no expert on the industry. But over the years I've got to rub elbows with many of the crypto industry's finest. Needless to say, I've been an observer for the most part, taking note of the wise ones.

Today was another new low for the Market Cap. Losing $160 billion in less than 24 hours. More than likely caused by Binance dropping out of rescuing another faltering crypto-exchange, FTX.

Bitcoin is now teetering at the $15k range. Which for the technicians, is a very precarious position. There's little support in this area and could mean a tumble to less than $10k in short order.

Unfortunately, this isn't the end of the bad news for crypto.

• There's a number of things that these lower numbers do to the balance sheets of the businesses and exchanges that are using crypto as assets. The potential for bankruptcies grows as the price goes down
• Over the years there's been a lot of promises and very few deliveries when it comes to the capabilities of the industry
• Ethereum is one of the major projects that has a number of question marks on the reality of the potential being promised
• There are a large number of the vast 21+K Alt coins holding on by their fingernails already
• User experience has always seemed to be a hurdle in the industry. It hasn't changed.
• CBDCs are on the horizon which could mean regulation and the potential for government intervention 

And, unlike Wall Street, the crypto industry doesn't have the secret number to the Plunge Protection Team or the FED yet... for a quick 100-200 billion to prop up the market. At least, not that I've heard of. 



I don't make predictions, not in this environment, but I've been trying to keep an open ear to the concerns of people who make a living in the industry. If you've been reading the blog, then you know there are indeed issues that need to be addressed that, as of yet, haven't been addressed. With that said, it makes crypto a risky proposition that can't be defended with just words or better prepared white papers. Crypto, if it's going to go forward is going to have to solve some of the fundamental problems that they've created for themselves. In addition to overcoming the religious nature of the masses adherence to government backed fiat money that keeps people firmly believing in it... even as they inflate it to the moon.

Respirar Acapulco is a blog that is also an effort to meet and collaborate with like-minded people. Knowledgeable, trustworthy, inspired people coming together with the willing and friendly communities of Acapulco. Which is strategically located, fertile ground for entrepreneurs, has a low cost of living, a high quality of life, a healthy culture, and much more. Here, we can demonstrate and breathe life into the tremendous possibilities for truth, freedom, and prosperity for all who desire it, together. If this sound interesting...You are invited to participate! Join us!