Crypto is Dead. Here's the Proof.

💎 Crypto: Rise & Fall of a Digital Asset Bubble || Wolf of Mainstreet ⭐Show more

We have seen this story play out before. Revolutionary. Long-term value. And this time it’s different. It’s not so different this time.

The decentralized finance bubble is bursting, the hype around NFTs is dead, and the trust in so-called stable-coins is long gone.

To put things in perspective, the overall crypto market value has fallen 70% over a few months to less than $1 trillion. It’s now tiny compared to the $100 trillion dollar market value for global equity.

You might be asking yourself, Is crypto genuinely dead, or is there a chance of a comeback? Well, in this video we’ll answer that by diving into how the pandemic created a once-in-a-lifetime digital asset boom. And by looking back at finance history, we will answer once and for all why crypto may be doomed to fail.

If you're familiar with the crypto markets, we've seen market downturns play out over and over again. For example, In 2014, bitcoin's price crashed when the Mt. Gox crypto exchange collapsed. Hackers accessed and stole $460 million in bitcoin. And in 2018, bitcoin's price fell by 80%, and hundreds of ICOs vanished into thin air.

This time, however, the recent crypto crash followed a classic boom-bust cycle. It was driven by dynamics the crypto market has never seen before and that we may never see again in our lifetimes.

If you think about it, the crypto boom of the early 2020s is a once-in-a-lifetime event. For one, we had a global pandemic. During that time people were paid more money to stay home than to work. Not only that, people couldn't buy a lot of things due to business closures. This resulted in Americans saving more than 2 trillion dollars. This also happened at a time when interest rates were at all-time lows. And to put the cherry on top, due to social distancing the world was forced to go digital.

This perfect storm set the stage for a digital asset boom. And from March 2020 to November 2021, the global crypto market increased by 20 times to $3 trillion dollars. But as lockdowns started to ease, things began to change in 2022. High inflation returned to levels we hadn’t seen in 40 years, the Fed reversed its easy monetary policies, and people shifted back to offices and in-person events.

In other words, people are no longer thinking about buying thousand-dollar jpegs when higher energy prices and falling investment values make it increasingly difficult to afford rent.

The decline in crypto you might say was due to circumstances in the economy, but in actuality it’s something inevitable like the dot com crash.

Find out why Crypto is doomed to fail in this video!

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⏲️CHAPTERS⏲️
00:00 Introduction
01:33 The Rise of the Digital Asset Boom (2020)
03:33 Cryptocurrencies Become Worthless
06:19 Crypto is Destined to Fail (Like Dot Com Crash)
09:24 What is the Future of Crypto?

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#crypto #cryptocurrency #cryptocrash

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