FTX, the value starts now…
I am afraid that the bad sides of human nature ensured the Crypto boom gave us an FTX. People simply get too greedy and blinkered. History…
I am afraid that the bad sides of human nature ensured the Crypto boom gave us an FTX. People simply get too greedy and blinkered. History has shown that the line does not keep on going up and at some point there needs to be an adjustment. We suspect that there will be some continued fall out as far as Crypto Tokens are concerned, probably up until early 2023:
Side note: At the height of the bubble in 2001, the NASDAQ had a peak valuation of $3tn and dropped to about 80% of that. The valuation of Crypto was similarly $3tn last year and we are currently at about 70% of that.
But let’s not confuse Crypto with the underlying protocols and technology that underpinned its growth. The bursting 2001 bubble unlocked the true value of the technology innovations that drove consumer benefit and convenience and we are about to start a new cycle of innovation.
The 2001 crash gave room for innovations such as Amazon & AWS, Google, Netflix, the iPhone, Deliveroo, Instagram, Facebook, Uber, Youtube, TikTok, & Spotify to grow, together driving the NASDAQ to a valuation of $300 tn today.
The underlying protocols that will drive the next decade are imbibed with transparency, trust and consumer control and will have a fundamental impact as they are absorbed into the world as we know it.
30 Nov 2022