It Seems Everything Crypto is Chaos

Perhaps the time we are in when it comes to crypto is just the biggest test crypto has had to endure so far in its very short life span. Or it is dead. I have not quite figured that out yet.

But of course, I am always interested in what the thoughts of others are on the subject, and when I read comments, I try to give more weight to the ones who are more defined in why they think this way or the other about the future prospects of crypto as a whole.

Because of course there are some who will be personally positive no matter what the real-time situation happens to be.

The thing is, as I look across all things crypto there just seems to be more problems than anything else. Players like Celsius have frozen funds and gone bankrupt. Other major players have also either gone bankrupt or have their CEO's and other key people wrapped up in criminal activities. Some have even run and hid.

And then there's what was once a promising enterprise to earn BCH, such as read.cash and noise.cash, which are now but shells of their former selves.

Is Marc DeMesel even interested anymore? And what about the funds? How are those looking? Certainly they must have mostly dried up because the activity on both read and noise are almost non-existent these days.

I still continue to hold on to what I have. I earn a wee amount of crypto from a couple of faucets I still use and whatever I get from read and noise, which isn't much at all. It was, from the start, play money. And I continue to treat is as such. I am not worried anymore now than I was when I got into it in the first place that I might lose it all.

I guess one silver lining is that I do think pricing in the crypto markets has sort of bottomed out a bit. At least that's what I gather from watching it over the past few weeks.

BCH is hanging around $112-$120. BTC is pretty much sticking around $20k. Algorand has been hovering around 30 cents and Doge is comfortably around 6 cents. Even Shiba Inu has been pretty consistent in where it is at for a while.

While they aren't going up, the thing is, they aren't really going down either. Not by a lot.

I have heard ramblings of what the Fed is doing with interest rates having an impact. The stock market is having an impact. Inflation is having an impact. The question is, are these the reasons for the depressed numbers in crypto? Or are the depressed numbers in crypto due to something bigger?

Like its end.

One thing I have certainly not done is to invest any more of my own money into this thing. If I get any more of any crypto, it is all earned. Until I know more, or can at least have some confidence that crypto still actually has any legs, I think sitting back and waiting is a better idea than doubling down.

A concept that is typically foreign to me when it comes to investing.

Normally I'd say the best time to buy things to invest in is when they are down. But that's only true if they are things you know for sure will eventually go back up. Like the stock market, for example, which has hundreds years of history to back that idea up.

The only assessment I can make about crypto right now is that it is all in chaos. No one really knows what it is going to do, or even frankly why. Sure, many still have lots of high hopes. They use all kinds of "investment lingo" to apply to crypto what normally applies to other tried and true investments.

But it's crypto. It's not tried and true. The same rules don't necessarily apply.

So, all I am left to do is sit back and sit it out and wait and see what happens. The only thing I can say is that on the earning side I may be willing to spend more time with it—so long as I continue to see at least some sustaining low end pricing in the market.

What say you on the state of crypto?

Lead image courtesy of Pixabay, user mohamed_hassan. Bitcoin Number Metallic - Free photo on Pixabay