i think Charlie is likely afraid of it happening again like it did twice in the past already. i think there's still a chance but I really do think crypto went a lot more mainstream and received a lot more institutional support this time around, so it's far less likely for everything to crash 90% again. The big companies are starting to see the value of blockchain and everyday people especially young people are really believing in it.
I don't blame him for being cautious though, until crypto has had a solid 2-3 year period with stability and no really major 60-70%+ crashes he probably won't be fully convinced yet about its maintained value and neither will I.
On another note the progress with lightning network atomic swaps is fantastic and really has potential to be game changing! im excited to see it all play out.
That's a really good point of view, thanks. So, it means every altcoin has this dropping probability, not only LTC ? Well, in the past years crypto market has gained many users and supporters, and that is still happening right now, more and more people are joining crypto and addopting this kind of investment. The only reason I see for crypto to drop and loose people interest is goverment pressures and eventually severe laws regarding crypto.
Thanks. I'm not actually trying to make any predictions or anything I'm just logically assessing why he would think such a thing and these were the reasons I could come up with. Government pressures could be crippling for sure, we never really know if they've got some sort of ace up their sleeves but there has also been a bit of a shift in crypto away from the whole overthrowing central banks idea, not completely of course, but notice how many great projects are coming up all over the place that are now searching for ways to integrate into the existing economy, helping to push crypto into more mainstream adoption. Many projects now want to be completely transparent and ditch anonymity in favor of governmental compliance.
So even if governments have a crackdown on it, as we've already seen so far, they also understand that the innovation in this sector is amazing and imo probably won't stop innovation but curb it to match their philosophies.
This is mainly about platforms and apps etc... For currencies it's a bit of a different problem but I hope they will find a way to co-exist for a long time.
Always be prepared for a potential crash though, if the past has anything to teach us.