In the early 90s, many of the early investors in internet companies sold off their stocks. It didn't look like the internet was going anywhere, and there were plenty of new stories disparaging it. With the sell off, big institutions started buying the stocks at fire sale prices.
Fast forward to 1995-96. Scam companies became rampant and companies 100 years old were adding a .com to their name and tripling their stock price overnight.
Little by little, those scam companies were exposed and soon the bubble burst. But the good companies continued to balloon in spite of the collapse.
The same thing is happening in crypto.
It's 1996, and we have 1000's of currencies.... That we don't need.
It's a game of musical chairs. We don't need 30 privacy coins. Maybe we just need 4 or 5.
This year, we will see the beginning of shitcoins start to flounder while useful coins rocket to the sky (see my signature)
The most important thing to do if you're new to crypto is to ask these questions:
1. Does this coin solve a massive problem?
2. Is the team incredible?
3. Is there a decent following?
4. Has this coin been audited for security issues?
5. Was there a shady premine or other red flags?
Stick with these questions and DO NOT SELL your good coins.
Big banks, corporations, even governments are beginning to jump in to crypto.
Once that wave comes, you will be happy you held your coins.