Hi Louis, greetings from Tonga, I noticed that you have not moved to the "Big City" yet. My thoughts on the situation are pretty much similar to yours. I do not see an multi-year bearish situation, though I do not see a very quick rebound either. I think that as bad as this may seem to many you can not compare it to the Mt Got era (although I was not personally involved in Crypto then), the reasons being that, as you said, Mt Got was a much more all encompassing event, the exchange catered for a high percentage of the total trading activity within the space and as such effected a very high percentage of people who were invested in a market much smaller than today. As you said we are currently dealing with life in a much more evolved ecosystem with many more fiat on-ramps and trading platforms. I see this as an ongoing trend and believe that, with the launch of platforms such as Robinhood et al. into the space and with decentralised exchanges growing in popularity friction will be reduced and thereby greater traction with regard to uptake will be achieved. In addition to the change in the ecosystem, there is no comparrison with the general level of blockchain tech between previous multi year bear markets and now. Many organisation have groundbreaking developments on their horizons whereas previously there was little more than Bitcoin, a few test nets and a spattering of white papers. Part of the reason that I do not see an immediate bounce back is quite simply that a lot of people feel as if they have been burnt (simply due to their point of entry....and to a certain extent I am one of them...although personally I do not feel burnt as it is just what it is). The general Crypto "Brand" has been damaged from the perspective of those standing on the side lines (and there are many more of them than there are of us current investors) and I do not think they see unknown issues, such as what is going to happen in terms of regulation, as a positive point in their decision to jump on in. I have heard many speak of the annual January down turn that will be over as soon as the Chinese New Year is over. I find this hard to imaging, due to all of the current regulatory pressure upon the chinese populace, though I am sure that there may well be an increase in activity from other parts of Asia. Personally, I hope that the market does stay suppressed for a short while longer to give me the opportunity to amass some more Fiat to go shopping with. Anyway just realised that I am probably rambling so I will sign off, but thanks as ever for your thoughts and insight. Cheers J
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