Looking at the past financial crises that happened, they all seem to have a few things in common, such as the mass adoption of a new financial product or technology (e.g. mortgage backed securities in 2008, dotcom boom in 2000). Given the extent to which institutions (and some influential figures) have been manipulating crypto recently, do you guys think this narrative is likely?
This is unlikely, to begin with the market is too small for this to happen so you should not expect this to happen, and second not all crises have to do with a new technology emerging, a great deal of the crises are nothing more but the government manipulating the markets and this creates misallocations of capital in which some markets have not a lot of money while others have too much money creating bubbles in the process, this is what happened with the crisis of 2008, and if anything the dot com bubble was special and when we see the size of the bubble compared to the current size of those companies it is fair to wonder if we can even call it a bubble in the first place and instead we were seeing the growing pains of a new market, something similar to what we see here.