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RE: More than half of last year's crypto rally was fake?!
Reminds me of the run up in 2013 where most of it was faked using wash trading by just a couple accounts. I took the market years to recover. Probably same here. Get settled in for the long haul!
That is what I have been afraid of...
If you really think about it, stock markets and banks have had to deal with people doing anything they can to milk a few extra cents out of the market.
With crypto, because there are no governments to intervene, systems will need to be put into place so that the system itself precludes this type of behavior.