Contrary to popular belief, this is not one of those articles that is supposed to add to the FUD. I mean it really is an exercise in logical thinking based on observations from the past year or more in my own crypto journey, and somewhat of an exercise in understanding the lifecycle of cryptocurrency to date.
To be honest, I have read about both ends of the spectrum raised in the question of the title of the article. I mean, there was even a Hollywood actor guy that wrote a book on how bad crypto was. I think he starred in a show called the OC and to his credit had a degree in economics from 20 plus years ago. I wrote a brief article about it here: https://www.publish0x.com/twodogscaged/should-i-get-my-crypto-advice-from-the-guy-from-the-oc-xddowlp
I have also read about, and written about how there have been predictions that Cardano (ADA) is crypto's version of Amazon. Here is a post I wrote on this: https://www.publish0x.com/twodogscaged/cryptocurrency-is-cardano-cryptocurrencies-version-of-the-do-xpzyzvo
Everywhere I look when reading about cryptocurrency I can find an article that states it is the end of cryptocurrency, or that it is the future. BITCOIN IS GOING TO BE ONE MILLION BY THE END OF 2023!!! Or this is the END OF BITCOIN!
When thinking and reacting emotionally, a person can be swayed into any thought pattern. The fact is that this has been the longest downturn for cryptocurrency to date. No one thought it would last this long. I think that many projects will disappear, but not cryptocurrency in general. I do think Cardano will be a large part of the future. Will it overcome Ethereum and Bitcoin? I don't know, and it does not have to. I don't have to pick sides, I don't need to be a Bitcoin Maxi to like Bitcoin and I don't need to put down any project to believe in or not believe in them. I began writing nearly a year ago on this site. I wrote a lot about the first investments I made in cryptocurrency. I chose projects that appeared to have solid foundations, not hype. Oh did I want to invest in Shiba Inu from an emotional standpoint. I mean in January 2021 If I had only invested a measly two dollars I would have become a millionaire! I missed it, and even if I was investing at that time, I would have missed it then too.
All signs point to cryptocurrency being a part of the future, will it be a bit part on the margins, or will it dominate the future of finance. We will see. All I need to do is have some fun with it, invest what I can afford to lose but hope not to) and maybe, just maybe make a lifechanging investment that I could not have imagined. I will do both.
I think, by the things I read, the movement in the US capital and in governments across the world that cryptocurrency is gaining steam and that there is a large market undervaluation. This is opinion, and not investment advice.
