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Time. Crypto is a speculative digital commodity bubble. We haven't seen a real bear market yet. Gold took 7 years from 1973 when you could own gold again to th
by veganhouseDJ 5y ago
Time.
Crypto is a speculative digital commodity bubble. We haven't seen a real bear market yet. Gold took 7 years from 1973 when you could own gold again to the 1980 peak. All the increase in gold mining lead to a 20 year bear market.
The crypto narrative is fundamentally unsustainable. It doesn't just have to beat the S&P 500 returns, people need to believe they are going to get rich. That November 2021 peak is going to be tough to take out. That is looking like the peak of the everything bubble from COVID. The get rich narrative can only hold for so long until the reality that crypto is a set of volatile currency no one really uses and has been massively over mined for years now sets in.
- dorgo 5y agoHow do you define bear market for crypto? -90% is just another year (or even month) in crypto space.
- danaris 5y agoI mean, I'd define it, much like any other bear market, as a sustained downward trend in the market.
- thebean11 5y ago2017 wasn't a real bear market? It dropped like 95% and stayed at 50% to 80% below peak for a couple of years..