Laser-Eyed Folks Be In Triage Right Now
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Is The Crypto Crash Likely To End Soon?
To answer this question, first, we shall declare our own stance on cryptocurrencies; you can use that to interpret the rest of this note which will help you decide whether this work is of any use to you!
In short, whilst we are no spring chickens here at Cestrian, neither are we boomers. This gives us, we think, some degree of neutrality as regards the utility and longevity of crypto as an asset class. Nobody here uses crypto as anything other than an investable, tradable security, because no one knows why they would need to actually ever spend it. In consequence, nobody here has ever owned crypto in its native form, preferring to gain exposure to it through funds (Grayscale Bitcoin Trust (OTC:GBTC), Grayscale Ethereum Trust (OTCQX:ETHE), ProShares Bitcoin Strategy ETF (BITO)) or stocks (Coinbase (COIN) at present; Marathon Digital (MARA) and Riot Blockchain (RIOT) in the past). (We can give you all kinds of high falutin reasons for this, but in the end, it’s because we just know that we will lose our cold wallets and be that guy combing through the municipal landfill to find what was meant to be his future Lambo but is now just a soggy USB stick covered in carrot mush).
To us, the asset class is something of a curio. We neither see immediate personal utility, so we aren’t true believers; nor do we think “bah humbug, this scam will end badly for those pesky kids”. Mainly though, as career tech investors we long ago learned that writing off the new-new thing is usually a mistake. So in investing generally we lean toward growth and our interest in crypto is from that angle.
What Should Investors Know About Cryptocurrency?
Amongst the laser-eyed community, you will find a clear division drawn between “fiat currencies” and “decentralized crypto”. Fiat, they argue, is a scam, being government-controlled, deflatable at will by central bank policy, and so forth. Old folks on the other hand believe that crypto is no more than a grand pump & dump scheme which will inevitably end in disaster because the fundamental value of any particular crypto is …….
Source: https://seekingalpha.com/article/4513876-is-now-good-time-to-invest-in-cryptocurrency