Since the ATH of $108,000 BTC on Dec. 17th 2024 it's been a slow and rather rocky decline to the current levels today of $93,000. Even other major cryptos such as ETH (Ethereum) have come off their highs of $4,000 and are now seeing just $3,300 showing a overall rather lack luster demand or want for these assets as of late.
What we have seen however are a few alts just moon shooting abut then quickly falling as well. I mean even the platform I'm writing on right now HIVE has seen a wild ride and what's really wild is the price we have today for many of these things are where they were just a year ago when all the speculation of ETFs was coming out. For most Alts we haven't seen any real gains and instead it's been centralizes in some rather wild projects for example ai16z which I had mentioned about a week or two ago.
If we look at market cap though that hasn't changed all that much over the period of this last month.
This market cap only moved 200 billion which might sound like a lot but it's actully only a 10% decline while we have seen places like bitcoin fall over 20% show us that funds are moving around to other tokens which is why we are seeing small bumps and pumps all around the place at rather random spots.
Watching Others
While there's a lot of talk about the negative pressure what I'm also seeing is that major companies are not yet adopting crypto. Microsoft recently rejected it with an overwhelming support of not picking it up and it's starting to make things feel like they are falling flat. A part of me feels like this sell off could continue. While we might get a little pump when Trump gets into office on Jan 20th as I've been saying it's going to take some serious time months if not a year or longer for any real framework to pass or adoption from the government.
On top of that we are seeing the IRS heavily push once again into staking rewards which just blows my mind because to me those should be considered as unrealized gains because unless you sell it off as soon as you get the staking rewards you're most likely going to operate at a negative loss while the government makes off with the profits.
These mind numbing overly greedy government expressive systems are what continue to kill crypto to this day from any real world adoption.
Recession
It doesn't matter what president is in what we have been thinking for a while might finally become a reality here in the next year or two which is a recession. Crypto being heavily pushed into stocks would have a huge impact on the token as well during these times and there wouldn't be much to do about it. We are seeing this with still high inflation and on top of that the fed has already said to only expect two 25 point rate cuts next year which is very small keeping rates rather high or at least 4x higher than what most have been use to over the last 15 years.
Do you feel crypto is in for a rocky play over for 2025? Or will it some how come ahead of traditional markets like stocks?
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