Is Crypto the Next Sub-Prime Crisis? ETHUSD (Ethereum) POV
More on this later...
For now, if you consider the very real possibility that a recession can quickly become catastrophic with: a war in Europe, seemingly enhanced instability in Asia, Record Inflation, and among other things - the current unwinding of a crypto currency bubble.
I'm not totally certain on this, but never in history has there ever been something with such little use, valued so highly (relatively speaking). Okay, tulips, calm down.
Even the diehard crypto philosophers (aka #cryptosophers) will concede ideas like: "Meeehh... It's very volatile at times"... granted they only say stuff like that on positive price action; otherwise it's some defensive narrative about what is actually just overcooked libertarianism.
The point I want to make is: things remain very volatile post-covid. Interest rates are one off-hand example. Commodities pulling back. Things can get weird real quick. And not only does crypto still looks dangerous, you have to really ask yourself: can this useless digital ledger token do anything? Like can it be spent anywhere other than an arcade?
Lol - I bet "subprime" just drives them cray.
Take care!
For now, if you consider the very real possibility that a recession can quickly become catastrophic with: a war in Europe, seemingly enhanced instability in Asia, Record Inflation, and among other things - the current unwinding of a crypto currency bubble.
I'm not totally certain on this, but never in history has there ever been something with such little use, valued so highly (relatively speaking). Okay, tulips, calm down.
Even the diehard crypto philosophers (aka #cryptosophers) will concede ideas like: "Meeehh... It's very volatile at times"... granted they only say stuff like that on positive price action; otherwise it's some defensive narrative about what is actually just overcooked libertarianism.
The point I want to make is: things remain very volatile post-covid. Interest rates are one off-hand example. Commodities pulling back. Things can get weird real quick. And not only does crypto still looks dangerous, you have to really ask yourself: can this useless digital ledger token do anything? Like can it be spent anywhere other than an arcade?
Lol - I bet "subprime" just drives them cray.
Take care!
