I do not believe that Bitcoin bubble has pooped as some fart articles would say. I don't believe cryptocurrency bubble has pooped as some articles say. Well my true honest opinion is we are still seeing way over priced projects here in the cryptocurrency space. Most of these coins even off for the first page year on CoinMarketCap. The top 100 the majority of the coins do not even have a working project or a working platform that actually doesn't serves any value. Most of things here are just ideas with a big dream behind it. And the thing is if you guys once passed the top 100 that narrative just become crazy.
Now sure some of these coins they have little use right? They can be set back and forth, they can set a blockchain, but most of them has incredibly large promises incredibly large dreams and these things simply will just never ever come to fruition. And the thing is that in a sense that itself is a bubble within a greater bubble.
The US CFTC has now come out in an Ex-Chair of CFTC said that he doesn't think the crypto bubble can burst until the big money is in like a whole big money right here as you see. Now what he means by big money is that institutional investors are still not participating in cryptocurrency markets. Without clear regulations and the resulting injection of “big money”, a burst of the “crypto bubble” remains unlikely.
Beyond popular belief the Hedge Funds is not in here , its way too vaulter. Hedge Funds is not coming into this assets right now especially Bitcoins which is the gateway in crptocurrency. We need some more regulation to come in to allow this big money to actually come in. Again beyond popular belief regulation is good for the space it does take away from what it was in years pass but we are beyond that now. This is going to be treated like stock market. It's good because we're still in early and its going to allow the space to grow.
Now when I'm talking about overvalued project I'm talking about 90% of these projects you know are going to not even exist in five years. Like if somebody is talking about 5 years cryptocurrency portfolio to you, they're crazy. That is the wrong mindset. Nothing in the top 100 in my opinion is worth buying holding right now for five yeas, besides Bitcoin and maybe Litecoin. Mainly just Bitcoin. In my opinion people don't really know the true value is right now, and the thing is that there is a long way to go.
"In the long run, the cream always rises and the crap always sinks"
The majority of crypto coins in this market right now are crap, and this type of market cycle that we are in right now with the market just absolutely tanking losing over $500 Billion from the peak in cryptocurrency as a whole.