The crypto markets for as long as they have been around have gone through cycles of boom and bust primarily for one reason, the entrance of new people into the market. Hype cycles happen and people flood to the gates with a fear of missing out, but ultimately many time they are left disappointed or sell out the second they make some money. Sometimes they dont make money at all but instead sell when it goes down and they become disgruntled with the whole thing and leave. 


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Those who have been here for a while for the most part arent large sellers, in fact someone recently did analysis and those addresses seem to be accumulating more. Many of the coins that are in the hands of big players arent being sold either, except for a few notable cases like the Mt. Gox trustee, but the people with those massive amounts will eventually be very rare as coins are sold and distributed. When the market goes down like we are seeing now, is when the most interesting things actually happens. It is when we start to see real change and distribution. 

There is the idea of the Eternal September which refers to the September of 1993 where a ton of people joined the internet mostly because of AOL distributing the free disks to households across America. However there was already a structure online that had been established so those who joined the internet either adapted to it or they didnt and never continued using it. We see this happen with every new generation of internet users so the idea is that the September of 1993 never ended. This is very similar to what we see with people entering the crypto markets. 

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Many people who come here either fall in love with the communities and the people here that they either hold many of their coins through the down parts or they sell and leave. We will most likely continue to see this as new people join the space and other people leave for various reasons. When we go up 10x and then drop 75%, there is a ton of reorganization going on within the new users and the old. This will probably happen forever for that reason specifically. 

Maybe in a perfect future coins become so distributed and the markets had so much liquidity that it would make it impossible to tank the market, but I dont think that will happen. Even if we look at gold, there are huge players who could tank the market themselves. Even the USD could be relatively hurt if a multibillionaire decided to ditch all USD for something like the JPY.  I think these market booms and busts are an inherent part of crypto and bitcoin at least for the foreseeable future and as long as the price goes up as fast as it does, the correction will be just as large.

-Calaber24p