In times gone past, the undoing of crypto has generally been a little more isolated to itself and not due to other markets, with bull runs and bear crawls occurring outside of the world’s most recent major economic downturns (like 2008).
This time, here in splendid 2022 post/during covid - I really don’t know anymore - we see global markets are getting fairly hammered. So is crypto as a result, but crypto’s floppy charts are due to rising rates and terrible outlooks, not due to doubt in crypto.
In the past, crypto crashes have been met with rhetoric like “oh it’s dead, crypto is no good”. But this time, not so much - there is no concern for crypto disappearing, the sentiment is when will it run again.
Even with this awful economic landscape, crypto is evolving more than ever! The merge is an awesome example of the innovation currently happening in the space. In this bear market it’s different because there’s still capital for crypto projects, and development to push further then ever before.
When the next bull run starts, all the pent up optimism and enthusiasm for crypto will collide with the innovation in the space, and result in a truly dynamic run. High end NFTs were the highlight of this current cycle, such as the bored apes, but the next run will feature ideas that haven’t even come into existence yet.
It’s going to be wild, but it’ll be the patient that benefit.
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