Last time we saw this amount of crypto hype and #fullretardmode was in the 2017 ICO craze.
That ICO craze blocked up the $ETH #ethereum network so badly that the whole ecosystem fell apart.
The high prices had a ton of new $BTC miners come on board as well.
At any rate, the economics of crypto stopped making sense at some point in late 2017 and early 2018.
It would seem that after the 2021 round of craziness with $DOGE then #NFT we have potentially reached a similar point of saturation.
Today, like in 2017-18 there is a confluence of things happening that will likely put #crypto in a #nuclearwinter
The weekly bear case == would seem fitting for $BTC to find it's home in this ABC correction taking it to the 1.618 which is probably going to match up with the weekly 200sma and the old breakout retests.
I could be wrong.
I know nothing.
Price is truth.
That ICO craze blocked up the $ETH #ethereum network so badly that the whole ecosystem fell apart.
The high prices had a ton of new $BTC miners come on board as well.
At any rate, the economics of crypto stopped making sense at some point in late 2017 and early 2018.
It would seem that after the 2021 round of craziness with $DOGE then #NFT we have potentially reached a similar point of saturation.
Today, like in 2017-18 there is a confluence of things happening that will likely put #crypto in a #nuclearwinter
The weekly bear case == would seem fitting for $BTC to find it's home in this ABC correction taking it to the 1.618 which is probably going to match up with the weekly 200sma and the old breakout retests.
I could be wrong.
I know nothing.
Price is truth.