The markets are red. Like really red. It’s a bloodbath, there’s no denying it. But I’m not worried and here is my brutal opinion for what it's worth.  

Firstly These kinds of corrections are a part of any market that is as overheated as the Crypto and NFT markets are. Just look at the tech bubble that popped in spectacular fashion dropping the Nasdaq composite index by 25% in the week of April 14’th 2000. In the aftermath of the crash only 48% of Dot Com companies survived. The same may, and probably should happen to crypto.

  Secondly, the companies that survived the Dot Com crash went on to thrive. Amazon, and Ebay for examples. Ebay bottomed out at nearly $3.50 per share, It is currently worth $46.50 per share. Amazon is an even more prime (pun intended) example trading at nearly $6.00 per share at it’s lowest point after the market implosion. Amazon currently has a share price of $2,107 per share as of the time of this writing. Those numbers don’t lie.  

The last point that needs to be made is how seriously oversaturated the market is right now. There is an important observation in mathematics called the Pareto Principle. The gist of which is that 80% of the consequences come from 20% of the causes. Which can be demonstrated by the 80% of value coming from 20% of the existing projects.  

In conclusion, goodbye to the overvalued and under producing projects.  

And Good riddance! Let the cream rise to the top!