1/ Far too many self taught experts are calling for #Crypto to save us from the current worldwide economic downturn. However, I consider this as nothing more than a pipe dream. Here are my reasons why.

#1 Crypto has zero investor protection

2/ Crypto markets are still the Wild West. Exchanges perform 0 risk assessment before letting people do 100x leveraged trades. There are no circuit breakers. No ban on wash trading, spoofing & exchanges trading against their own customers.
A few hedge funds may dabble in crypto

3/ But such a market isn’t going to make old money pull out from traditional markets & go all in on crypto

#2: None of the projects are ready for prime time

As much as crypto fanatics hate to admit this, it’s the truth. #BTC and #ETH aren’t scalable & are nothing more than PoCs

4/ #XRP, meant to be a universal bridge asset is still illiquid against several currencies. Infrastructure oriented projects such as #LINK, #XTZ and #VET are still in the building phase. Almost everything else is a lab experiment.

#3 Regulators are still finding their way around

5/ Crypto regulation has come a long way in the past few years, but it still has miles to go. The finality & irreversibility of crypto payments necessitates that financial watchdogs need to be able to track illegal usage as closely as possible. Exchanges & wallet providers are

6/ Still working on being travel rule and FATF guidelines compliant. This is all going to take time and until it’s done, crypto will be nothing more than a niche.

Does that mean I am bearish on crypto? Not at all. It just means that my personal timeline is different.

7/ I believe that in 5-10 years, blockchain and crypto will revolutionize many fields. Some of the current projects will make it, most won’t, and there will most definitely be new players.

8/ Does that mean we won’t see another bullrun? Of course not.
Crypto market cycles happen independently of all these factors and we will see more bull and bear cycles happen in the meantime.

To summarize, if you’re in it for the tech, be patient and back the right horses.

9/ If you’re in it to make a fortune, follow the market cycles and back the right horses for that. These 2 goals are not mutually exclusive and there will be some overlap, and you can reach those conclusions only if you DYOR.

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