BTC stagnant at $29,000. Which direction it goes will be determined what happens to Binance. The biggest mistake I ever made was investing in all those small DeFi coins. Very few will make it. Maybe TGT can if they can start mining gold and paying monthly rewards regularly. Maybe DGNX. Maybe FEG. Most of the other are going under. 25,000+ cryptos out there and more coming. Regulation is coming sooner than later. If BTC recovers, the large market cap ones like APT, ADA, AVAX, SOL, DOGE, SHIB and other will be just fine. I hold a lot of those too.
All the DeFi ones can't get new holders and most have lost holders. Overall, DEFI has been a dismal failure. Regulation may end almost all of these smaller ones but regulation is needed in crypto. Telegram is a total joke and a waste of time. In some, thousands of posts a week, saying nothing, as tokens for the most part are going down, staying the same and not up. Like I said, a total waste of time. Bigger tokens like BTC, ETH, Binance and others don't need Telegram. Telegram is pretty much for pumps and dumps trying to suck people in but no one is falling for it. Like I said, most of the smaller ones have pretty much zero chance of making it. Just like the micros all failed like FLOKI, BABYDOGE, ELON and many others. Many rug pulls in the micros as rug pulls are now hitting DeFi as well.
Another issue is that the average Defi investor is broke. The average buy of $5 to $20 in most is a joke. Very little money and DeFI has not attracted many other larger investors like myself. I am pretty much done with DeFi and hope two or three of them can make it and I will use all the others as a tax loss against future gains from the larger ones. I don't need to waste any more time on Telegram and these very small tokens going nowhere. Developers bailing in DeFi, too many excuses for total failures and just too many losers in it as keyboard warriors, without money to back up all their posts. I have also witnessed that most of these DeFi developers and owners don't have a pot to piss in. They are mostly broke or near broke and don't have capital to keep most projects going. They need others to buy as well as selling stupid NFTs which are a total waste of money. Stupidity on my part, investing as much as I did. No more money going into DeFI for me with an exception or two.
Crypto probably does nothing until 2024 at the earliest. I will hold my crypto, not buy more and pretty much play the OTC penny stocks which I pretty much buy or sell something daily. Still dependent on a market rebound, as 2022 and 2023 are years where cash is king. Thankfully I have a nice chunk of cash put away from 2021 OTC penny stock profits, now getting over 5% interest, giving me a nice monthly income. Crypto will do very little until these lawsuits are resolved and hacks and bankruptcies end. Crypto trust is at an all time low, in my opinion. BTC needs to be at $50,000+ or higher which will save most of crypto, as 95% of them still follow what BTC days. Crypto plays need to be independent of BTC, like individual stocks are of each other. I don't see that happening until 2024 at the earliest.