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?
To make a financial crisis market cap should be larger. Mortgage-backed securities in 2008 market size were almost 4 trillion. At that time this was quite a big figure for the world economy. The Crypto market is still new and someone could crash the market with only several thousand BTC.
Right now this may not be the reason for a financial crisis but in the near future, it could be. The more we are heading towards web 3.0 the more crypto adoption will begin. This could attract big institutions which could manipulate the markets more frequently.