Is There a Cyclical Collapse in Cryptocurrency?

Every four years you're going to cut the block rewards. In theory, a whole bunch of miners will go out of business unless the price adjusts. The problem is that degenerate gamblers come in with leverage and push prices way above fair value. I think what's kind of happening right now tends to be a lot more macro focused insofar as people don't realize this is just seasonally a weaker period for risk assets.

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