The Crypto end-phase is full on… but will likely see further incredible moves as the last “greater fools” are enticed into to thinking it’s a buying opportunity. Good luck to them! As the crypto-mythosphere of delusional technobabble evaporates, it’s accompanied by a smell the coffee moment in SPACs, Disruptive Tech, and the other pricing anomalies so blindingly apparent to anyone with an erg of common sense watching these bubblesque markets. Vol will roil markets generally as these dominoes tumble….. Meanwhile.. what future the City of London with 50% of us likely to continue working for home…..?
As the Federal Reserve wakes up to “elevated relative risks” and the rest of us scream “bubble”, the real questions are about real value. Why is a Bitcoin worth as much as Renaissance Art? Why is Dogecoin the top performing asset off the year when everyone knows it's a joke? And when are people going to drink the proverbial coffee?
Coinbase’s direct listing was a muted success. It looks likely to trade in line with volatile bitcoin and other cryptos. On the back of the claims of increased “adoption” of Crypto by the Street, the exchange has first mover status meeting the need for the facilitation of safe crypto investment while expanding services for holders – but what does it fundamentally mean about the long-term future of the “crypto-ecosystem”?