By now I hope everyone knows that dogecoin was nothing but a joke, right? The creator himself did it as a spoof.
The market for crypto is very different from the last bull phase. There is tons of institutional adoption and positive news flow. There will be a correction at some point, I have no doubt. But I don't believe the correction you call for is coming from these levels, but from much much higher. And any correction is likely to be more muted this time around due to the underlying bid. Even stock index correct 50-75% sometimes too. And plenty of ridiculous individual stocks make incredible runs like Doge, take gme for example. Doge's rise is not proof that crypto is bullshit.
I have to admit, I DO like the idea of defi, and I think it has a great future. However, the coins need to stabilize more before it becomes a practical use case scenario. Otherwise, lenders will get smoked. I borrow x amount one day, but because the coin shit itself the following week, I am paying back x-20%. Also, never underestimate the ability of those crooks on Wall Street to somehow gum up the works w/ lobbyist money.
true, but once they are not volatile the inefficiencies will be much less. inefficiency in markets means opportunity for profit.
Right, and what happens when opportunity for profit is gone? Does everyone start to sell at once? The USD may be losing value, but its doing so at a fairly predictable rate. Nobody is worried about holding $100,000 for a month. But how confident are most people holding 2 BTC right now if they will need it in a month's time. Will it be higher? Will it be lower?
to each his own based on his own risk tolerance. Certain coins and protocols will sell off, yes. The space as a whole is not going away. It is possible mass adoption leads to less volatility. I’d argue were already seeing that in btc. The risk is commensurate with the reward, like every other trade. My mom can’t handle more risk than a bank cd. I hold a very high percentage of my portfolio in crypto. It’s been paying off. Maybe I’ll regret it later. But the risk of it collapsing is not an argument in favor of ignoring it in my opinion.
well done if true, crazy run those coins have had, no doubt small time players have become quite wealthy through them ( I missed the train, low tech guy here)