I had been enjoying the nearly two months of gains in the overall cryptocurrency market.

Then came the new of Silvergate's apparent demise.  Last week Thursday the bank stated it needed to delay it's annual report. This led to a domino effect for Silvergate and the entire cryptocurrency market. After the announced delay of it's annual report, Silvergate was dropped by Coinbase and five other cryptocurrency based companies https://cointelegraph.com/news/coinbase-cutting-ties-with-silvergate-forces-crypto-hedge-fund-to-find-a-new-bank .

Now, not only are stocks down that are related to cryptocurrency https://www.reuters.com/technology/crypto-stocks-fall-silvergate-crisis-deepens-2023-03-06/, the entire cryptocurrency market is down as well https://decrypt.co/122629/bitcoin-ethereum-plunge-market-mulls-silvergate-fears .

I have to say, I have only been involved in cryptocurrency since the bear market was in full effect and have never really experienced a bull market where I was personally invested in any cryptocurrencies.  Around the beginning of the year when prices began to climb I was surprised that I wanted the bear market to last a little longer to buy at such low prices. However, after my investments gained over 40% I was enjoying the ride up. With this new SIlvergate fiasco, we are again on the way down. I fear it will be to lower prices than it was at the end of December. This will allow to buy at low prices but it is a bit deflating. 

I initially predicted the turnaround would begin in late summer or early fall of 2023. Maybe that will still stand. Inflations has been going down, but there is fear the fed will need to be more aggressive before it can relax interest rate hikes.  

I still believe in the long term viability in cryptocurrency, but man is this a long haul of ongoing bad news.  All I want is for the companies that are failing to fail already, stop trying to mask or hide your issues. Give it up for the good of the industry. Get out of the way so the strong survive. Sometimes it is better to rip the band aid off instead of slowly peeling it off and feeling the pain for longer than necessary.  

Here's to the future!