The Crypto Apocalypse
Out of 20k ICOs:
80% of them (16k) were a total criminal scam in the first place - steal the money and run - based on results of an academic research paper.
Another 18% of them (3.6k) went to zero and collapsed .
Of remaining 2% (400) that survived those below the top 10 have lost on average over 90% of their value since their peak .
Of the top 10 : Bitcoin is down 45% from peak, Ethereum is down 55% from peak, XRP is down 60%, Solana and Dogecoin are down 65%, Cardano is down 75%.
“Stablecoins” like Tether are now breaking the buck and trade below par. While dozen of “stablecoins” went totally bust in last decade.
Memecoins - including $Trump and $Melania - are down 95% .
NFT indices are down 95%.
Pump & Dump, Wash Trading, Ponzi Schemes were 99% of crypto standard operating procedure.
Now this whole Ponzi scheme house of cards is unraveling . Read my recent column on why and how:
https://t.co/ju7HIqPOgW
"The Halving Cycles Theory can't keep being right because it's too obvious!"
The same words were said during the entire cycle 4 bull run.
As price continues to decline, targets change, and time frames change.
"I'm buying at 30 - 40k at the end of the year" becomes... "This will be a hyper bear market because Bitcoin is irrelevant, etc., we're going to 5k." And everyone just accepts it as guaranteed.
Like in November 2022 at 16.5k after the collapse of FTX, it was "A recession is coming, you don't understand the macro, 10 - 12k next."
The real event will seriously challenge anyone's game plan of how they believe things will play out.
Let me get this straight: Don Jr. & Eric Trump can sell 49% of Trump’s World Liberty crypto platform to UAE for $500M in exchange for UAE’s access to our AI chips - but Hunter Biden can’t sell a painting.