I think we'll still experience many bubbles with cryptos, especially while it's new. Look at 2013.....same scenario here and nothing's really different except more attention and hype and some new cryptos. Sure, there's a lot more money to come on board....but there will be way more once cryptos are actually utilized. No parabolic movement has ever sustained in a financial market. All the money and hype coming in here is pure greed. No one is using bitcoin for purchases. People are buying cryptos for trading and to hold. That never sustains.....bubble. It'll come down eventually and then it'll settle until the next crypto bubble starts. It's happened time and time again, so no reason to think it won't here especially when they're not even doing anything.
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Can't disagree with what you say...the speculative money is way ahead of the actual technological use of the blockchain design...but knowing that...one tries to carve out what they can while it lasts.