This cycle seems very familiar with the dotcom boom and bust. The internet was known to revolutionize commerce which it did but the fact that everyone was creating a website drove a bubble that would pop as they came in hordes much sooner than people had the ability to use them. It wasn’t until bandwidth costs improved and became more available that the internet economy boomed. This crypto cycle is similar as due to the technical aspects of having a wallet and how to onboard fiat as well as maintain security, adoption and use remains relatively low. However, many industries are embracing the technology due to the potential it brings. Therefore, we are still building the groundwork to what could eventually revolutionize the payment space as well as many other applications.
The long hold for another 2-5 years it seems. I really thought we would hit some serious mainstream adoption this year but 6 months later we still dont have any idea in terms of taxes and regulations. Freakin goverments seriously take foreverrrrr to do anything!