I'm actually getting to the point where I think the ocean of red ink on the crypto markets today might mark that final phase of market cycles: *"Capitulation,"* that point where the last of the speculators throw in the towel, thinking everything is just hopeless and will never come back. Bitcoin had a nice little runup... and now has given it all back, and change. 99 of the top 100 coins are down today; many double digits.

I'm hoping the last of the speculators and gamblers (within reason) will finally be flushed out, and that long term "value players" will start bargain hunting for the *viable* alt coins out there. Perhaps a consolidation and clearing out? As Warren Buffett once said "When the tide goes out, you discover who's been swimming naked." 

"They" also used to say that the Internet would never appeal to anyone but a handful of nerds and academic institutions...