Cryptocurrencies are Dead
Is the title clickbait? Absolutely! Is there any truth to the title? Absolutely!
Cryptocurrencies as you knew it are dead. Everything that the crypto fanboys and fangirls shouted from the mountain tops in late 2017 is dead. The currency that was supposed to be anti "the man," anti "the establishment," anti "old world banking" is dead, or at least those ideals are dead.
Who Killed It?
The crypto fanboy and fangirl of course. In Bitcoin's rise you couldn't hear enough from the cyrpto-maniacs about what cryptocurrency is going to mean for the future. In its decline, we can't find any of those same Bitcoin, cryptocurrency chest thumpers, which is a bit disappointing. Because now is the time they should be rallying people to get involved in cryptocurrencies. When a market or investment pulls back and ranges like Bitcoin and other cryptocurrecies are doing, that is when smart investors plant the seeds of their fortune. When investments start going up rapidly, that is when dump money starts to chase the carrot.
Why are Cryptocurrencies Dead?
Cryptocurrencies aren't actually dead, but the ideal of what it was going to be, the anti-bank, anti-establishment currency that would change the world and shift wealth to the common man is dead. While the cryptocurrency fanboys ran for the hills to either spend their crypto fortune or hide from the friends they advised to buy Bitcoin at $19,000, the establishment has been getting involved in crypto. The establishment is in control now, the big boys of Wall Street are now the captains of the cryptocurrency ship; and make no mistake, the titans of Wall Street aren't in it for the common man. Above are headlines of the major banks getting involved in cryptocurrencies. Do you remember when they were all speaking against it just a year ago? Wall Street, the smart money is getting involved while cryptocurrencies are down and out.
Cryptocurrencies will rise again, maybe not as fast as they did in 2017, but they will rise. With companies like Morgan Stanley, JP Morgan, and Goldman Sachs involved it only seems certain. The ideal that wealth can be accumulated by the common man with cryptocurrency investments is still a possibility, but the common man has to plant seeds now, and not chase the carrot later. If you are a real believer, then start loading up your Bitcoin Wallet or Crypto Wallet while it's cheap. Break out that Bitcoin mining machine and get it running again. Get in before Wall Street's takes it to prices you can't afford.
P.S. We warned of Bitcoin's decline in late 2017, and you can read about what tipped us off here.
A simple key for when not to buy an investment. When you're local news begins to cover an investment, if you are not already involved, don't get involved. Think about what you're local news covers from day-to-day. When local news stations started tracking the price of Bitcoin that was the key to stay away if you weren't already involved. Now you know and knowing is half the battle.