Prometheys

In addition to my previous post, I would like to dive deeper and highlight the weakest aspects and issues concerning the entire cryptocurrency market.

1.The influx of celebrities into the industry. In the past, the only prominent figures who could influence the price of an asset with their statements were Elon Musk or the founder of Binance. Now, presidents, boxers, showbiz stars, and anyone who feels like it are jumping in from every corner, creating their own tokens, manipulating them, and brazenly scamming people. This happens due to the lack of basic regulation. In the crypto world, the rule is simple: the one with the most money calls the shots, hence the analogy with the Hunger Games.

2.Degradation of the market in terms of developing new networks and coins. 97.5% of all coins on the crypto market can safely be thrown in the trash. They are mere copies of each other, empty shells fueled by hype and fleeting market capitalization that disappears into someone’s pocket overnight. The main problem is that no one can offer anything new. As a result, both newcomers and seasoned retail investors dive into garbage projects and lose their money. The most likely way to heal the market is a massive dump, a return to a state of shock where people were terrified and watched in disbelief as everything crashed, painting the charts with red candles one after another. Yes, it will be painful and unpleasant, but it’s necessary to end this bacchanalia once and for all.

3.Integration into the global financial system. As strange as it may sound, this process is the most dangerous because it directly contradicts the very idea of cryptocurrency. The core idea of cryptocurrency is independence from financial institutions and structures, a safe haven, not a fragment that reacts blatantly to statements from the Federal Reserve. You cannot build a mix of capitalism and communism; sooner or later, you’ll face fire from both sides. The market must undoubtedly evolve, but as a separate, independent structure, not tied to anything or anyone.

4.Unrealistic expectations. People come to crypto hoping for insane profits because someone bought in and made a fortune—why can’t I? I hate to disappoint you, but the chances are high that neither you nor I will be the next lucky one. We’re not failures; it’s just that we don’t know something, or it’s simply the survivorship bias at play. The success stories (a tiny minority) overshadow those who failed or gained nothing. You don’t have to look far for examples—take Trump’s projects. Many lost their entire savings, homes, and apartments, hoping to make astronomical profits, and now they’re just hoping to recover what they lost.

5.Scams and fraudulent projects. This is one of the market’s oldest “tricks.” FTX, LUNA, Mt. Gox—I won’t list them all, but these are the most well-known. Many have suffered from their mistakes, and so far, no one has faced full accountability (in the form of returning all the scammed funds).