When was the crypto market ever about any fundamentals? If it were about facts, then there would only be Steem (and maybe EOS) - everything else is technologically inferior. Tell me one thing, that you can do with any other "cryptocurrency" that can't be done better by ♨? Yes, there are issues on the blogging app Steemit, but these are not relevant for the blockchain itself.
So I think, if the crypto market will survive, it will never be about or because of fundamentals at all.
I think you're absolutely right in that there aren't much in the way of fundamentals with the cryptos out there. However, it's a case of buy the rumor sell the fact. The government is promoting the risk appetite and it's flowing into all sorts of risky assets right now. The entire market is essentially propped up right now by the government because it never recovered from the crisis we had back in 2007-08. I see a lot of volatility this 2nd quarter than the beginning of the bear market in the 3rd which will be severe.
Yeah, I see where you are going with this, but it doesn't get much more bear than we are already - there is still too much money in this young market to kill it off completely - also and especially for the bankers, who have already taken over BTC and I see a lot of pumping before they take their wins - rinse and repeat... We'll see...
We are no where near bearish in the charts just yet, people have no idea how bad things are going to get. My background both professionally and academically is in business but in a spiritual context think of it like this; There is the "jiva" (individual soul) and the "para-jiva" (universal soul). Depending on your position they can be one in the same but from the micro or individual position there are all these experiences that you need to go through as part of your evolution and the same thing goes for the universal soul. The soul is trying to feel itself through the mind and can create extremes that need to balance themselves so that the soul can feel itself again (eg I win the lotto, I become excited, elated, etc, then the oppose needs to be experiences to balance the energy). In the macro sense the world is at an extreme right now and is going to get snapped back as the energy returns and then there will be a return to equilibrium. In my opinion we are at the end of a larger cycle right now, interesting time to be alive.
Ha, I like the analogy. Yes, it is all coming back into balance at the relative level - although from the bigger perspective nothing has really happened - it's still the whole. 🙏