I was long a crypto pessimist, missed out on the great 20-21 run, got in at the ATH’s in 2021 with various projects and of course at the moment my portfolio is cooked. I was actually also invested around 2017 but I got out pretty quickly except for a tiny bit of Bitcoin I kept in an offshore sports book.
All that to say, I see A LOT of hopium that this is just a ‘bear market’ and we will rebound. But my question is… why? So much has changed in the world and I’m not sure that if it wasn’t for Covid and the stimulus that came with it we would have ever rebounded from the last bear market. Plus there is so much more regulatory attention on crypto, I just don’t see a catalyst for it.
I’m not trying to beat a dead horse, but I genuinely would like to hear some opinions other than “it’s what happens in bear markets”. Because even with equities which have a far more extensive history, there are companies and countries (Japan) that never recover or take A LONG time to recover.