Thoughts on Crypto Downturn

Good evening,

As everyone who's reading this knows, it's been a rough day for the crypto currency market cap. Very bloody. In the coming months, I predict continued downward slope (with intermittent bounces and deep dives). My reasoning is simple. There are lots of weak hands in the crypto market - emotional investors who scare easily. These hobbyists are only interested in crypto to the extent it promises continuous profits. Many of these people have already made a significant profit on their investments, and are simply not willing (or cannot afford) to let that go in a downturn.

These people are not durable holders, and they will take flight by the droves shortly after the market plateaus or droops.

This isn't a big deal though. When the weak hands shake out, the market will stabilize. The silly buzz surrounding crypto will die down. I'm sure some (or many) of the coins currently out there will drop to near-zero value. Others won't. For the cryptos that survive, prices will steady and this, in turn, will spur adoption by businesses.

In the end, I predict the cryptos that win the day will be ones with monetary controls built in. I think the coin will have something akin to a private Fed, which with the power to issue more coins (to place a ceiling on speculative fervor), and the power to redeem coins in exchange for fiat (to place a floor on a panic). Sorry to those who despise "banksters" and centralization - this is ultimately the sort of currency businesses and governments like to use.

Anyway, this is just my opinion - it's mostly based on anecdotal evidence, and is totally subject to debate.