Hey readers, and welcome back to another opinion packed article jammed full of unverifiable ideas and theories. Today I’ll be rambling on about this alt season, and how it’s different from the other main one of note, obviously, the 2017/2018 run-up and fall off.
So, let’s unpack some of the differences now.
2017 had no corona virus, as well as overall a less knowledgeable base of entry users to the crypto systems, and of course, no corona virus.
I mentioned corona virus twice though?... well you bet I did, and I’ll tell you why. I believe it is the heart of what put us in this crazy market and will, eventually, maybe even right now, lead us to a horrible devastating crash.
So why was corona virus such a big fucking deal for crypto? Well, it was a big deal for a lot of reasons to a lot of different things/aspects of life. But mainly, it gave A LOT of people a lot more fucking free time than they ever had before on their hands, and let’s be honest, was a financial win fall if you were in the middle or lower middle class (better even at poverty level). Because with governmental aid in the form of stimuli, mortgage and rent forgiveness programs and more free/affordable food programs than ever before becoming active and accessible, it gave people a lot of freedom to do a lot of different things. I hypothesize, many who had heard of crypto, but never had the time to DYOR, or say the spare money to invest now did, thanks to BEEFY unemployment benefits to ALMOST everyone (‘essential workers’ excluded, I apparently was essential, and therefore DID NOT get those fat checks). HOWEVER, in addition to those FAT government unemployment checks getting cut, they were also making their money printers go “brrrrr” by providing stimulus checks to everyone (regardless of your employment status) so people were win falling with cash, and boredom.
I believe many took the time to start throwing some of that extra NOT hard earned money, and tried new things.
Which is fine, and I have qualms with, what I DO have a problem with is the sort of bubble I feel the economy as a whole still has yet to see pop. And it will relay into the cryptospace in a BIG and exciting way, my prediction is when the drop starts to come as the piper becomes due to be paid, it will happen hard, and fast, I think a lot of people are going to need to sell the HODL’s they have made (or tried to make) in order to simply make ends meet.
The government support (for the most part) is coming to a end, people have been relying on money and aid they didn’t have to work for, for so long. Delaying payments of major items/expenses through supplemental programs, and when this all finally does start to wrap up the amount of creditors that will be able to come after people, and the amounts they will be able to do so for will be astronomical.
now, this is all just opinion, hypothetical, and hopefully, probably won’t happen. But in a world where people for the most part, still use fiat, I can’t imagine that most newer people will opt to keep hodling when they see that the debts they have been able to make of the last year will still have REAL long term consequences for their life if they go into non payment.
People for the most part are week. It takes extreme strength and dedication to stick with something like investments especially when your back is really up against the wall when it comes to your “needs”, I don’t know, and can’t say for sure just how this alt season will end up winding down (if it ever does) but one thing for me is certain, no matter how bleak the future seems for crypto, I’ll be here, in it, and with diamond hands. And as the coming weeks progress and turn into months, I would not be surprised to see a massive amount of paper hands shredding their initial investment just trying not to lose more.
again, I hope not, but the world stage has not been set up well for banner year of earnings pretty much across all realms of industry, so I guess we’ll see.
hoping your ???? stay ?? too!
- ??’s
