HERE’S a list of 2,417 launched and failed crypto currencies.
Some of the most obvious red flags over the past month are the fleet of crypto-exchanges that have completely tanked, locking up their ‘value’ in a crypto version of a run on the local bank. In fact, the chances of the value of your crypto-investment going up or down today are precisely equal. The bottom line in all of this, despite the thousands of hours devoted to charts, graphics, and imagined ‘trends’, few of the gurus predicted the current drop, or likely further drops in the value of the digital currencies. Keep in mind that there are few regulations or controls on most cryptocurrencies and, whilst there are genuine gains to be made, there are also catastrophic losses for some, and with almost no legal come-back. Like the religious faithful, it’s in their best interests to gather more followers (investors) to the flock.īut there have been a few red flags over the past month that even the most enthusiastic crypto-zealots must be a bit nervous about (though they’d never admit it publicly). Today the online crypto-gurus are still promoting the narrative that the good times are still ahead, that crypto currency will recover and eventually exceed their past highs, etc, etc.
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