Bitcoin is down 40%, but it wasn't long ago it was around 10,000 so you could still be up big in a short time. I hear daily about new cryptos being created and touted as the new thing. It will fracture the interest in the big cryptos and cause them all to collapse. The interesting thing is when it collapses 99%, what will happen then. The myriad of dot.com stocks are all out of business is huge, but out of the collapse came facebook, amazon, the "big boys". If cryptos are the future, the time will be coming where maybe you might want to throw $1000 dollars into the ones that seem to be surviving/still functioning. The trash and useless ones will go away, and we will be left with just a few and they might be worth thrown $1000 dollars or so (maybe 1 to 2 percent of your money), just on the off chance that it is really what they are touting (future of money). I won't invest anymore than that, because I am still not entirely sure that the entire market will not be replaced by something more "official".
Since the end of all the "free" money is coming to a slow, grinding halt, I am expecting things to start to go down, like stocks, bitcoin, the high-flying stocks like GME, Telsa, ARKK. Companies that are worth fractions of what they are selling for right now. I don't know if the cryptos are enough to pull everything down with it or if it will be isolated, but as with the housing bubble, it has the potential to crash.
What I figure is most likely to occur, is that we have multiple crashes that feed on each other and spread, the cyrptos, housing prices, and the "new tech" all go down together. I guess the only question is if we see a bounce where Bitcoin gets to back to 50,000 and then it all goes down in flames, or is just goes straight down.
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