re: Why is crypto crashing?

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Crypto acts like high risk equities, not alternate currency. High risk equities have been smashed the hardest. Whales have determined that crypto isn’t the hedge against the US dollar that everyone makes it out to be

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i think people get too hung up on the alternate currency part of crypto. its only been around for 13 years, and hasnt even been on the radar until like 5 years ago. its waaaay too soon to assume it would behave that way out of its infancy.

fiat came around about a millenia ago and didnt really see popularization until 700-800 years later and US didnt adopt until about 50 years ago.

i think crypto is still in its 'dial up internet' kind of stage. i do think people are wrong to make it out as alternate currency currently speaking, but its probably going to be viable for that within 20 years.