Chuck's coin teetering on the brink of a dramatic plunge to 9cCardano, along with many other high market cap tokens, certainly stands out.
As we find ourselves in the crypto bear market,
I would argue that we have actually been in one for quite some time now.
The rapid declines can catch newcomers off guard.
Meanwhile, those who have weathered several cycles tend to quietly withdraw and wait for BTC to undergo its usual year-long downturn.
Will BTC hit a bottom again next November, similar to the previous four-year cycles?
The odds still seem to favor a yes.
Even with the influx of institutional capital.
This situation simply means that the OGs finally have the liquidity to cash out completely.
And they have been doing so with great intensity since the summer.
Unfortunately, altcoins do not benefit from this liquidity, and there are hardly any profitable wallets aside from those of founders and VCs who essentially created the coins or acquired them for a pittance.
Retail investors will likely bear the brunt of falling for the hype once more.
