I think a 90%+ correction could easily still be in the cards, with a true floor being held only by those who simply aren't willing to sell at any price, anyone who was just in it for fiat profits will easily be chased away for the coming years by the collapse of an exchange or 10 and the destruction of all of the stablecoins. And funny enough they'll exit just in time for the fiat system to start crumbling, but will find it hard to re-enter crypto when all of the entrance gateways are shut.
Some FUDDY stuff! I dont't think so. Mining costs for BTC is about 13-1500$ ? A 90% drop would mean all faith in cryptos is gone, and that blockchain tech is considered pointless? Dunno man..sounds far fetched. But of course, anything is possible. At that point I'm going to vote for any party that implements universal basic income..cause I'll need it!
Sure. But for crypto noobs that are all ready down 50% of more, it's hard times right now. It's hard enough for me who's still up 400%. The best thing is to be prepared for the worst. I'm not going to sell any cryptos, because I believe in it long term. But it could take a long time to see those paper-gains again.Or not..who knows. But these things often take some time to fix.
I think a 90%+ correction could easily still be in the cards, with a true floor being held only by those who simply aren't willing to sell at any price, anyone who was just in it for fiat profits will easily be chased away for the coming years by the collapse of an exchange or 10 and the destruction of all of the stablecoins. And funny enough they'll exit just in time for the fiat system to start crumbling, but will find it hard to re-enter crypto when all of the entrance gateways are shut.
Some FUDDY stuff! I dont't think so. Mining costs for BTC is about 13-1500$ ? A 90% drop would mean all faith in cryptos is gone, and that blockchain tech is considered pointless? Dunno man..sounds far fetched. But of course, anything is possible. At that point I'm going to vote for any party that implements universal basic income..cause I'll need it!
Sure. But for crypto noobs that are all ready down 50% of more, it's hard times right now. It's hard enough for me who's still up 400%. The best thing is to be prepared for the worst. I'm not going to sell any cryptos, because I believe in it long term. But it could take a long time to see those paper-gains again.Or not..who knows. But these things often take some time to fix.