A lot of projects within the space are massively overvalued.
There is a lot of delusion in the minds of this space, there is a mass of people who have money invested (whether it be coin, hardware , whatever) in this space who have creditors and bills .
Not to mention there have been a good deal of problems and scams which will stay in the minds of people who got burned and whoever they whine to.
We will see what kind of capitulation goes on at 7k.
The pattern is playing out similar 2014 and most parabolic advances now after the recent I think we go lower and grind sideways for months now.
Crypto, however, fundamentally is a much bigger space now there us a plethora of exciting projects going on and some of the best minds in the world active and the best buying opportunity is approaching in my opinion.