The dove ️ just shared a pretty pessimistic opinion. ～～～～～ A lot of smart analyses have already been published after Friday’s events, so I’ll keep my thoughts brief: 1️⃣ The altcoin market is done for the foreseeable future. The scale and execution of this wealth destruction will leave a deep mark on the minds of participants. 2️⃣ Long/short strategies in the crypto market are no longer viable. These strategies work in normal market conditions but tend to fail at the most critical moments. 3️⃣ Contagion is inevitable, but the extent of its impact is still unclear. I hope there won’t be any systemic issues. 4️⃣ Goodbye, DATs. ～～～～～～ That said, I feel like the shock from this market event doesn’t hit me or some of the OGs as hard as 3/12 or the Luna crash back in the day. The pessimism toward the industry during those times was bone-deep—especially 3/12. If it weren’t for Arthur @CryptoHayes pulling the plug, it was the first time since I entered the space that I started doubting whether Bitcoin would go to zero. So I’m not *that* pessimistic. Let’s wait for the post-crisis rebuilding. At least every time we rebuild, the city I see afterward is always more prosperous.