You are viewing a single comment's thread from:
RE: Morgan Stanley WARNS Of Coming Recession & Stock CRASH! - Sells All Junk Bonds!
People seem to think that cryptocurrencies are not subject to the same risks. They are.
Many of the largest currencies don't have any real underlying value and minimal purpose. The average newbie investor is buying coins because they're increasing in value, without understanding that the value doesn't exist. It's a ton of FOMO hype.
I foresee a major crash coming sometime. A lot of junk currencies are going to die out and we'll see a lot of consolidation of the market into the remaining cryptos that have actual real underlying products / services.
I think you're spot on @weaselhouse, I couldn't agree more.
The dream of a use-able currency right now for blockchain.. BTC just can't deliver.
It's definitely sowed the seeds, and I think new tech like Hashgraph will be able to deliver on this dream in the future.
In the meantime, 99% of these cryptocurrencies in my view are wildly overpriced, and will return to their intrinsic value soon enough.
I think, like any investment strategy, you want to utilize diversification and cryptocurrencies are another thing to diversify into. It is hard to predict which choice will be the right one when things go south, so be in many things, including cryptocurrencies.