There are any number of other reasons for the recent drop off in crypto: a move from Bitcoin to other more functional currencies, a growing realization that Tether does not have a $1 backing up every coin it issues, profit-taking and rebalancing which typically occurs around now, emerging competition from government-backed coins (real or imagined), etc., etc., etc. The real questions for every crypto-investor is (1) whether you believe in the use case offered by the issuer and (2) whether you believe that 100 million users will embrace it as a viable solution to a set of problems. The answers to these two questions won't be known for years. Fed actions of the kind that Cody describes are short-term. However, if the Fed steps in and competes with its own coin to serve a diverse set of use cases, then many of the secondary currencies in the crypto market may be in real trouble.

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Founder of ThinkingLonger.com, Investing Strategist

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