With the way DeFi was going I already was expecting it to end like this. Seriously, just look at how these projects were growing like crazy, how can a genuine investment go from $1 and the next thing, within a month or so, you’re seeing that it’s being sold for over $50k or so, lol.
So, I wasn’t surprised when they started becoming total failure. Although I am not saying all of them will fall, there will still be some of them around. But with the way they were moving , majority of them were doomed to fail and that’s what they are currently experiencing.
It seems that when there is a bubble any kind of common sense goes out of the window, it is as if people do not really understand how the economy or the market works and this is puzzling as it is in fact very simple, if you earn one dollar then that dollar did not magically appear on your account, that was a dollar that someone else had and that now you took away by being smarter than them.So, I wasn’t surprised when they started becoming total failure. Although I am not saying all of them will fall, there will still be some of them around. But with the way they were moving , majority of them were doomed to fail and that’s what they are currently experiencing.
Which means that if a coin grows in price from 1 dollar to 50 dollars unless the demand can be maintained then its price is destined to crash sooner or later, and which kind of an asset can justify trading for one price one month and then trade for 50x the next month? And no asset can justify that kind of reevaluation.
