Okay I feel that it’s time for a little rant and/or random thoughts about the current state of the crypto market. More specifically, looking back a couple of years and looking forward.

First of all, does anyone remember that just last March, Bitcoin was trading between 4,000 and 5,000 dollars? Somehow the new 10K+ reality feels like ages, so the sudden drop from the 12K to the 10K range sounds really bad, but please remember we’re still 200-250% up from just March this year.

Secondly, crypto has changed. Altcoins used to be a great opportunity to make some dumb money. Random coin X was hyped through the roof and random coin Y was doing an ICO which skyrocketed +500% as soon as the word Binance was even uttered by someone. Today, you’re lucky to make 200% if you’re smart and patient enough to pick the right coin at the right time. Let’s take a couple of “prime” examples:

2017 > 2018: Just some examples

• Oyster Pearl: Went from 3-4 cents to 3-4 dollars in a few months, that’s making 10 grand of your $100
• Request Network: Went from 4-5 cents to a dollars in a few months, that’s making 2 grand of your $100
• Power Ledger: Went from 16 cents to 1,60 in a few months, that’s making a grand of your $100
• Verge: Went from sub 1 cent to 0,20 in a few months, that’s making 3 grand of your $100
• Even high-cap coins like IOTA went from 20-30 cents to 3 dollars in a few months, that’s making a grand of your $100

These are just some examples, there are many more. And then we move on to the “drought” of the past 2.5 years, where just *some* coins perform well

2019 > 2020: Just a few notable exceptions

• Chainlink: Went from sub 1 dollar to 20 dollars and now back to 11 dollars
• Tezos: Went from 40 cents to 4 dollars and now back to 2-3 dollars
• BNB: Went from 6 dollars to 40 dollars and now back to 20 dollars

All in all, I feel like the first significant BTC drop in 2018 and the demise of Bitconnect was around the time when the crytpo market slowly became a snoozefest. We all realized that we had been in a tulip mania around that time and everything plummeted. That was exactly the time when Crypto became less interesting, heck even boring.

I genuinly hope that the crypto market opens up towards the future, giving both the technology (I know right) and the people who are investing in the technology a good time. Personally I will wait until there’s a COVID vaccine before investing again, when hopefully the world will start getting back to “normal” (whatever that means).

TL;DR: 2017/2018 good, 2019/2020 bad