RE: The Crypto Carnage: Bigger Than The Market Crash

[rzc24-nftbbg]

Puzzled with mass psychology. The market crashes I know are always preceded by euphoria, which I think is missing in the current one.

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Comments

[arkadik]

I think we saw a very clear euphoria phase before this market crash, there were very obvious signs of extreme greed such as (In the crypto market):

• Degen farming
• Useless coins being pumped to oblivivion (hello SHIB!)
• Insane amount of Ponzi based projects in both in P2E & DeFi

If we talk about the stock market:

• Growth companies with extreme valuations and poor balance sheets
• Insane market behavious with MEME stocks (GME and so on)

Don't you agree?

[rzc24-nftbbg]

Though I don't expect of course mainstream adoption to happen all at once, I think prior to the crash, there was a lot of uncertainty already and bashing of the crypto space.

[taskmaster4450le]

I think the run up to $65K on BTC was pretty strong.

Now we are feeling a painful move from there. Was there a blowoff top like many times? Maybe not but we did not stay elevated too long.

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[rzc24-nftbbg]

The 7-month downtrend looks like a healthy pullback for me, though it seems a little overdone.