The crypto market moves so fast. Crypto is like dog years to other assets. A stock bear market usually lasts for about 12 months. In crypto it might last for just two months. Once the market bottoms out, expect a big upturn, and that will be the end of the bear market, but we might not see new highs for three to five years, if ever. Valuations got totally detached from fundamentals. At it's peak, Bitcoin's market cap was about $300 bn. That's about the value of Wells Fargo or Wal-Mart. That's crazy. There are any number of other cryptos that can do the same thing as Bitcoin, why pay the premium?. This bubble has been a huge misallocation of resources. The money in cryptos would have been better spent on investment in factories or research or whatever, anything that creates wealth and pays dividends. It's gonna be a long time before people lose their heads with crytos again.
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