⛄️ [Analysis] Why this crypto winter will be worse than 2014's – Dovey Wan
- Bitmain failing in IPO or performing poorly post-IPO is a strong bear signal indicating even the most profitable player in crypto isn't accepted in capital markets
- Many of the highly anticipated projects who raised a ton of money will launch their mainnets in 2019, most will fail to meet expectations, all have to compete with the tiny group of dapp devs
- The mining crisis is the worst since 2011, due to the “hash rate bubble” of 2017
- Institutional buyers’ entrance is still far off
- The market is highly trading/speculation centric, most early bag holders have taken profits and are beginning to short to make more money
- Unlike typical startup environment, all crypto assets are highly correlated
- Many devs in the space noticed the basic infra is incomplete, and protocol is not solving immediate user pain-points or creating new demand
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