THIS ISN'T TIME FOR POINTLESS OPTISTISM

Lately, I haven't been following crypto as closely as I would have (a couple of years ago), thankfully. Why? Well, It would be quite depressing seeing my portfolio bottom out. Mr.Nouveau riche is back in the trenches, who would have thought? .

The situation around the crypto market is quite depressing to say the least. For someone who has been building his life around this sphere, it feels silly in retrospect (and a recipe for disaster). However, away from the woes of the crypto sphere, I want to talk about the sentiment around crypto from the believers and non-believers standpoint.

So I was watching this short clip on tiktok( yeah that's what I do in my spare time now) from a popular podcast called Logan. He spoke about how everyone he knew who was in crypto at some point is broke currently. To be honest, I cannot fault that statement. Most of the people I know who are in this industry full-time are far from where they used to be a couple of months ago.

Now, there is another crowd–of non-believers– who are having a field day trolling crypto enthusiasts. "Crypto is dead," they say ("I told you so, didn't I?". I want to say we deserve it because we can also be a toxic crowd as well. Remember how we used to laugh and troll people who still believe in fiat and the government? Well I guess we are having a taste of our poison.

One of the major narratives out there–in the media–is that crypto is dead. Now, I do not believe crypto is dead. The crash wasn't expected. With all the crazy things occuring in the NFT and DeFi space, I know it was only a matter of time before things went downhill–a correction of some sort. These sorts of things are expected.

Now my issue is with believers blindly believing the market will recover soon or in the next bull run. The crypto sphere is driven by innovation and that in my opinion is what's going to create demand for crypto. So the question is, what is the next big thing? I cannot think of anything right now. Most of the promises made during the last bull run were not fulfilled or achieved. Many projects were created for the sole purpose of preying on ignorant or greedy people (or both), and we do not want this cycle to continue.

I want to believe in time this space will mature enough to attract more serious investment and less speculators. However, the reality is that the crypto space is not ready for maturity. If your best strategy going forward (after this crash) is to buy the dip then I do question your mentality. Don't get me wrong, buying the deep isn't a bad strategy, however, if that's what this space is about then it's just a big ponzi scheme

I want to see how the crypto space evolves from here. To be frank, I am losing faith in the idea that this technology will revolutionize the world. Crypto is not a novelty anymore. So there must be some level of substance to the industry to initiate the next bull market (since that is what everyone is going for now).