"This is absolutely insane": Bitcoin’s weekend crash exposes the cracks beneath crypto’s latest boom.
TL;DR This piece provides a weekend recap of recent events and their implications for the cryptocurrency industry. The whole 9 yards of 💩 By The Royal Flush This is absolutely INSANE: Bitcoin’s weekend crash exposes the cracks beneath crypto’s latest boom. I’ve watched enough cycles to know the drill: the moment someone screams paradigm shift, you should check if there’s a real paradigm or just hype dressed up in white robes of math. The price charts look like a roller coaster built by a coder on four hours of sleep, and the narratives? they’re loud enough to drown out the sound of common sense. We’re being told this is a new era, that institutional adoption is finally here, that the network has finally earned trust. And then a weekend happens that makes you wonder if you’re watching a financial instrument or a reality show about a ponzi that learned to code. Here is what happened this weekend and what it means for the crypto industry. Bitcoin slid, altcoins followed, tens of b...