"Is the bubble about to burst?" - This has been a common narrative used by crypto haters ever since Bitcoin reach its first peak and MT Gox drawdown. Unfortunately, it seems this same narrative is spreading like a disease that is trying to shake the crypto foundations by turning crypto supporters against each other.
Isn't it true? After "MT Gox drawdown" btc dumped 80%. After 2017 bubble BTC dumped 80%. Same will be now, no matter if it will be 2021 and dump from 69k to 15k or in 2022 from 250k to 50k. Is it wrong to say that bubble burst 3 times in crypto history? During 2019-2020 there were open telephone support lines for people who want to commit suicide because they have lost their life savings... I know it looks easy to hodl from the top of the bubble perspective. Its not that easy after 3 years in bear market and 80-99% dump (depends if btc or alts).
Nasdaq during dot.com bubble also dumped 80%. And it was a bubble... no one question that. But after that tech survived and nasdaq is now +2000% from bottom. Same in crypto. The difference is that crypto is so dynamic that new tech or new paradigms show up much faster. So after third bubble we will most likely see fourth.
If Bitcoin and cryptocurrencies are considered bad for fiat financial stability, then why are there so many geniuses who can't solve the economic system that requires only rich people to stand on top of the Pyramids?
Even if you will distribute all global weath equally I bet that in about 1 year 90% of people will have a worse standard of living than before the distribution of wealth from the rich and 10% will be driving lambos. Mostly because people do not know how to save money, they have no idea about the economy, about investing, about simple math.
