Crypto Fever

The crypto market is the largest speculative bubble in history. The prices of crypto currencies have inflated far beyond any rational relationship to their intrinsic or underlying value.

If you are of my generation, or a fan of classic cartoons on TV, I consider the crypto bubble to be a Roadrunner situation. Wait, what?! The Roadrunner cartoon was about a bird, a roadrunner, constantly pursued by the perennially hungry coyote named Wile E. Coyote. Inevitably, while Wile was completely focused on the hunt and deliriously fixated on how delicious his prize would be, the roadrunner would lead him off the edge of a cliff. For a few moments, the coyote would be suspended in midair, inches away from his prey, with legs pumping frantically, eyes bulging and tongue hanging out as he saw himself feasting on his prize. Then the roadrunner, who is a bird BTW, and completely at home in the sky, would wave goodbye and Wile would awake from his delusion and fall to his demise.

Since 2008, when Bitcoin was introduced and in 2009 when the Bitcoin platform went live, crypto currencies caught the imagination of a minority of investors. With nothing barring other versions of crypto from being created, there are now over 9,000 crypto currencies in existence. However, nearly 90% of the total value of all crypto is provided by the value of the top 20 crypto currencies. The rest will likely end up as worthless collectible coins, like so many from the Osbourne Mint. The top few versions, including Bitcoin, Ethereum, XRP, and Solana, have experienced massive price inflation in the…