Re:Ask HN: Is anyone else glad the crypto market is crashing?
by camillomiller on Thursday May 12, 2022 @03:31PM
(#31359157)
The crypto market was worth $3 Trillion in November, and it's worth 1.5 Trillion today. It's A LOT of money, but it's a popped cyst at best in comparison to the smallest securities market.
So it's a seismic event, for sure, but it's not systemic. Comparing it to the banking system collapsing with no insurance doesn't make much sense.
The market crash is the inevitable consequence of stopping the pandemic liquidity faucet. We were waiting for this for quite a while now, and with the FED having to rein in two years of crazy, a massive market correction was inevitable. The fundamentals of most companies are still firmly there, so they're mostly underperforming. There'll be casualties, but this was a much needed purge.
Just don't check your 401k balance for the rest of the year.
The market crash is the inevitable consequence of stopping the pandemic liquidity faucet. We were waiting for this for quite a while now, and with the FED having to rein in two years of crazy, a massive market correction was inevitable. The fundamentals of most companies are still firmly there, so they're mostly underperforming. There'll be casualties, but this was a much needed purge.
Just don't check your 401k balance for the rest of the year.