September 28, 2022

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The recent 6 months were brutal to the crypto community that experienced so many lows, it is hard to believe that many continue. Many skeptics think that the future of the whole industry is in jeopardy with the market losing over 60% of its value, much short-lived bull runs leading to dramatic fall downs, and many huge exchanges losing workers and capital during these trying times.

The group of people thinks that doom is coming and that many will lose everything during the second half of the year. Some of the fears are not unsubstantiated. For example, the total demolition of the NFT market indicates that the industry still has a lot of space for different Ponzi schemes, and many start unraveling in a very ugly way.

The bankruptcy of Celsius, one of the biggest lenders in the domain, was taken by many as a signal that the whole DeFi market is about to collapse despite there being no connections between DeFi projects and Celsius which is a centralized entity, thus bankruptcy. At the same time, we cannot ignore the fact that the dream of many enthusiasts did not come to fruition: crypto is not a good answer to macroeconomic disasters.

The whole world is experiencing a recession with many countries going bankrupt and developed nations seeing inflation numbers that terrify them. The ongoing Ukraine war as well as some problems with the economy on a larger scale created less than favorable circumstances for investors across the board making it hard to continue risky endeavors in the crypto industry.

Some wild predictions

It is fun to speculate about the future. Some interesting suggestions that are discussed online may sound farfetched or crazy, but they do have some ground underneath them. The upcoming merge is a source of all sorts of forecasts. One of them says that the event will be a huge bomb that will leave us with three competing chains breaking down a huge distribution network.

Mass liquidations by private holders may collapse the prices and create an even stronger bearish trend that will end in a situation where the bottom will be quite literally the bottom.

The doomsayers see the future in very dark tones meaning that we don’t have to believe them, but it is still fun to read them.


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