Well, it looks like we’re in the collapse of the “everything bubble” now- it’s a global sell off of every asset that is overheated or over-hyped.
I don’t mind admitting it but I sold all my crypto off 8 days ago because there’s too many uncertainties in crypto right now and wayyyy too much hype for technologies that aren’t delivering what they promise.
Look, I know this is going to sound conspiracy theory-ish but every time bitcoin splits for ‘technical improvements over old bitcoin’, all that happens is the miners of bitcoin end up with more money for no reason- that isn’t sustainable growth. It’s like a balloon blowing up a balloon and then the second balloon explaining that it will have to blow up more balloons.
And even if there is a floor of say $5K US found for first generation bitcoin later this week, that still won’t stop the US regulators from nailing the dev’s of tether, causing a further market collapse.
Yep, I’m holding cash until I see some working applications of IOTA.