Personally, I think and hope that a longer bear run throughout summer could potentially lead to the end of many projects that were created solely to cash in on the hype of crypto. My analysis is that less than 20% of crypto holders are invested because they believe in the utilization or general functionality of their coin or token. The overall market cap of all of crypto is around 30% of its stated amount on CoinMarketCap, IMO.

If crypto is going to continue to climb the mainstream latter in terms of quality investment tool, stability and actual utilization for the purpose many of these tokens/coins were originally created then we are going to need to purge some of the craziness. I am hoping this bear run will be the beginning of that process.

For now, short term, yes.

Crypto has turned into a stock market 2.0 type class which is the complete opposite of what it was intended for originally. On top of that, Elon Musk decided to go full on crazy and essentially ‘pump and dump’ Dogecoin etc on a whim.

This has been TERRIBLE for the crypto market. These recent issues are just the skim of the surface. The media has harped on trash projects such as SAFEMOON etc.

I welcome a crash, and yes it would cost me a lot of money, because crypto needs to get back to its original utilization.