Bitcoin will be just fine, and the altcoin market will bounce back as well

I am 100% positive that bitcoin will recover. Altcoins I am less positive, but only slightly less. We'll call it 90% positive...

I am sure many of the largest ones will recover just fine and new ones will pop up that do very well as well.

The reason for this is because the industry is not going away.

We are simply transitioning from a wild west industry to one that requires the businesses involved to play by a set of rules.

If they break those rules, there are significant consequences.

That being said, we are probably close to max pain right now based on history...

Check this out:

(Source: https://twitter.com/el_crypto_prof/status/1592834129426804736/photo/1)

That is a monthly chart of the altcoin market.

As you can see the lows are probably this month, or next month, or the following month.

A wide range I know, but the point is that the worst of it is probably already passed and we are likely to bottom somewhere around these levels.

Time will tell...