I personally do not know what will happen to the entire Crypto market, but it seems it's about to be heavily shaken up in the coming weeks.
Reddit is killing off all 3rd party apps within the next week or two. I expect a mass exodus of users there shortly after. Reddit is by far the most popular place to go for crypto news.
Binance is now being sued by the SEC. They are the #1 crypto exchange, and we all know how dirty CZ and Tether are.
The perfect storm is now coming for Crypto.
Let's see if any coins/platforms survive it. I know many here are dug into the sand on both sides, I think we are getting that answer soon on what will happen with Crypto, and it's potential role in the future.
I personally think a few will remain, but I can also see it going the other way too, it all goes POOF.
Crypto has a great deal of utility for people as a means of moving money around in a way that cannot be stopped by banks or governments so I don't think that it will disappear, it just might not be used for speculation. That might actually stabilise it a bit.
I do agree, and i've been on the side where I see some it surviving long term. I don't discredit the counter arguments either though.
At a minimum, this will be a great cleanup phase for crypto. If there is a mass exodus on Reddit, that alone will kill off a lot of the rugpulls and shitcoins as they will no longer be able to mass pump and dump.
The biggest unknown, is when Tether and Binance go down, what will happen to BTC and ETH. I think ETH is going bye-bye, Vitalik has his skeletons in his closet that will rise from the grave (he's a groomer/pedo sympathizer).
ETH is going nowhere. Theres a reason you didnt see it listed as one of the supposed securities that the SEC is alleging
ETH is a literal security with how they launched if you go by the security definition. The SEC is corrupt, and have also ruled ETH as both a security and a commodity in the past.
No one has “ruled” anything. We have no regulational clarity on any of these coins. Thats part of the problem. They are unique assets that fit the definition of neither commodities or securities perfectly. The SEC throws around accusation of coins being securities wildly. But its certainly interesting they've stopped doing so with ETH all the sudden. Thats because they know who is using ETH. And they know they will lose the XRP case.