Hi everyone. I feel the need to make the following statement considering the environment we're entering into...
There WILL be a major altcoin crash at some point in the next year or so. It'll affect the fundamentally flawed altcoins.
There are a lot of cryptos based on companies with no product. Cryptos with no application use. There are cryptos like Dentacoin which is based on dental hygiene and the dentist industry with more than a billion dollar market cap. That's ridiculous.
My point is, there is a coming consolidation. Many cryptocurrencies will continue to prosper for many years down the line, but many of the terrible cryptocurrencies will crash and burn.
Understand what you're getting into. Don't judge a book by its cover. A cool logo is not a reason to get in.
While I'm a big proponent of cryptocurrencies, I do find uneducated speculation to be concerning for those who've done no research but are maxing out your credit cards to get into something you know nothing about.
The fundamentals are entirely different from the derivatives markets, but it does remind me of the shoe shine boy in October 1929 giving the wealthy investor stock tips.
The fiat system will come down. The stock market will eventually come down. The bond market is crumbling as we speak. Cryptocurrencies, gold and silver will carry on and be innovated on, but that's not to say they all will. Many cryptos will likely not make it through this year.
I don't want people to get too excited and start throwing their money away. I've seen a lot of reasonable speculation recently, but I've also seen people promote cryptos they don't even understand. This has prompted me to make this statement.
With that said...
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Governments, banks and media are attempting to follow one bearish crypto story with another in an attempt to manipulate the value of the market down.
First was the faulty and fake story regarding a so-called South Korean ban.
Now talks about China building more walls around the market pertaining to mining.
Lots of FUD, no fire. This is further evidence of how powerful and dangerous the market is to the banking and political establishment.
