I don’t see how this is any worse than the “ICO” craze a few years ago. Probably 99% of those scams are now dead. Rumors about crypto’s death are always greatly exaggerated

This time around was no worse than the ICO craze of 2017, but importantly it wasn't any better either.

Despite tens of billions in investments poured into the space, crypto is fundamentally unable to create lasting value.

I'm not qualified to say if the bubble is popping, but I am seeing a lot of GPUs on the market at or below MSRP.

I think it's more likely that's related to the upcoming transition of Ethereum from PoW to PoS.

Nice!! Ill haveca look

> The crypto bubble is popping.

For the 900th time, the crypto bubble is 'popping' or it has already 'popped'. The speculators and bag-holders are getting flushed and wiped out once again just like in 2017. This is before regulations are coming and it is happening again.

Meme-coins and other useless ERC-20 tokens will collapse and become abandoned where as the utility in many other cryptocurrencies (coins not tokens) will continue to survive.

Until then it has to go down before another drive higher which will probably happen after another Bitcoin halving, most likely in a couple of years time.

Would have expected another run after the next halving but we’re in uncharted territory honestly. Bitcoin and crypto only came about in the post 2008 era of easy money. If that spigot dries up, its not certain they will keep going up every halving like they used to.

On the other hand, after the current central bank shenanigans, trust in centralized institutions is even lower and non-centralized currencies become more attractive.

Its a wait and watch for me.

There's no shortage of easy money, there's shortage of confidence. Every single crisis the already wealthy become even more wealthy. Right now they're consolidating and derisking, wait a few years and the chips are on the table again.

Besides the wealthy, there's the army of believers putting in small money.

“Easy money” as in it was dirt cheap to borrow money and the Fed had been doing QE since 2008. That ends now - at least for a while.

Risk assets look very different when you can borrow at 0.5% interest rate vs 3.5% interest rate.

Very much true, but that funny money didn't evaporate, there's just no appetite to put it in an asset like this, temporarily.

Isn't quantitative tightening doing just that? It's removing money supply

>The crypto bubble is popping

For the 4th time. See you in 4 years for the next crypto bubble.

I guess all that easy money being sucked out of the system must be leaving some noticeable voids already.