I think the general de-risking taking place in the traditional financial markets is also impacting risk appetite and liquidity which is pulling capital from the crypto market as well... You make great points but if you step back and think about it, the same happened with the internet companies at their development. Companies were lead by young college dropouts with a vision. Ultimately, once fundamental issues like interface were solved, the industry changed the way the world does business. I think the blockchain revolution will do the same!
Posted using Partiko iOS
It's a good point, I would just say, most internet companies failed that had began during the dotcom bubble. A few made it out of that bubble, like Amazon and kinda Yahoo (thought Yahoo is worthless). Most of the successes on the internet today didn't start in the dotcom bubble. Google did exist back then, but it didn't become a company until years later.
I think this is a fair analogy for the present market. The technology will succeed, but many projects fail.