//Ignore the conspiracies, this is why crypto crashed…

Ignore the conspiracies, this is why crypto crashed…

It’s not that complicated tbh;Majority of people who bought in dec/jan don’t even understand what bitcoin isMajority of people who bought in dec/jan bought to “get rich quick”Majority of people who bought in dec/jan don’t believe in bitcoinThey sell when price goes down and have very very very weak handsBitcoin goes down = Everything else goes downThis selloff is the result of these people being shaken outBonus points:Coinbase was #1 trending app on app storeLiterally everyone I knew that I told to buy bitcoin at start of 2017 was calling me the “crypto expert” asking me to help them buy cryptoCrypto was in literally every major news outlet and all over social media to the point that it had become a memeWhile there may be a chance that whales are playing a part in this, the main reason for this crash is that we were overhyped and people expected too much from an asset class that has very little real-world adoption. Stop playing with conspiracy theories and trying to deny the most obvious facts.If you bought in dec/jan and are still here, congrats. The fundamentals behind bitcoin is at an all time high (LN, segwit, wallets etc.).It may be a few months/years before the hype has died down and then we will slowly crawl back to a new ATH.

It's not that complicated tbh;

  • Majority of people who bought in dec/jan don't even understand what bitcoin is
  • Majority of people who bought in dec/jan bought to "get rich quick"
  • Majority of people who bought in dec/jan don't believe in bitcoin
  • They sell when price goes down and have very very very weak hands
  • Bitcoin goes down = Everything else goes down
  • This selloff is the result of these people being shaken out

Bonus points:

  • Coinbase was #1 trending app on app store
  • Literally everyone I knew that I told to buy bitcoin at start of 2017 was calling me the "crypto expert" asking me to help them buy crypto
  • Crypto was in literally every major news outlet and all over social media to the point that it had become a meme

While there may be a chance that whales are playing a part in this, the main reason for this crash is that we were overhyped and people expected too much from an asset class that has very little real-world adoption. Stop playing with conspiracy theories and trying to deny the most obvious facts.

If you bought in dec/jan and are still here, congrats. The fundamentals behind bitcoin is at an all time high (LN, segwit, wallets etc.).

It may be a few months/years before the hype has died down and then we will slowly crawl back to a new ATH.