[paulpauper]

And about $120 billon of that is stable coins

It's too soon to say it won't fall further. The chart is still very weak. It won't take much for btc fall below 16k again. Another major failure like gemini or greyscale will do it.

Yes, it's worth a lot still, but for most btc investors long-term returns have been bad unless you bought pre-2017. BTC is only up 15% from its 2017 highs (from 19.5k to 22.5k). This lags almost all index funds.

The combined value of oil or copper is worth a lot too, but this does not make it a good investment either.

[RestlessMind]

Please stop spreading FUD.

> And about $120 billon of that is stable coins

Check any reputable source (like [1]) and you will find that BTC market cap is 438B today without any stable coins.

> unless you bought pre-2017

Get your facts straight. BTC was <4K in Q1-2019. Heck, it was <10K for the entire H1-2020. Today it is 22,762$.

[1] https://coinmarketcap.com/

[panarky]

Maybe all the talk about the death of crypto just reflects where we are in the cycle.

The mood feels similar to late 2018 when most people weren't paying attention at all, and the few who were paying attention were just disgusted by the whole thing.

When the conventional wisdom is that everything from art to sports to real estate will be imminently cryptoized, you know it's frothy, and near the top of the cycle.

When the conventional wisdom is revulsion and disgust then maybe we're another six to eight months away from not thinking about it at all, which is probably the bottom of the cycle.