In my previous post the total cryptocurrency market capitalization was $500 Billion, and I believed the market was close to bottoming out. Since that post, the market has taken another tumble to sub $350 Billion.
While there is always a chance the market can continue lower in the short-term, I do not believe this is the end of cryptocurrencies as many now fear. It is important at times like this to remain calm, breath, and keep your thoughts on the long-term potential for all these technologies.
The most important question we should ask is "Why are we here?" Perhaps we originally got into crypto-currency because we saw the prices rising, but upon further research we discovered the tremendous value of the technology, the communities, and revolutionary new ways of conducting business.
I believe in the importance of cryptocurrency as an ecosystem for many decades into the future. In the end, this technology brings out a free, competitive, and open landscape than anyone can participate in. Like the internet itself, it allows people all over the world to exchange value in meaningful ways and will lead to a brighter future in our own lives and for all of humanity.
It is for these reasons, I have dedicated my life to this space and will continue to promote the virtue of blockchain technology and cryptocurrencies.
My opinion of the bottom being near has not changed. Although it is very difficult to put the exact time or dollar where the market will bottom, my faith remains strong that it's only a matter of time for the turnaround to occur.