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Comment by EFreethought | Hacker News Reader

One way this is different for BTC/crypto is that it was getting attention in mainstream/"Main Street" culture.

BTC has been acting like it's just another speculative asset for a long time. I bet a lot of Main Street investors will probably not come back to crypto after this is all over.

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> BTC has been acting like it's just another speculative What does that even mean? That makes no sense in the context of what Bitcoin actually is, rather than your straw-man interpretation of other people's incorrect assessment.

As for main street - they will come back just slightly wiser. Don't forget how much of them skipped Bitcoin and went straight to canine and DeFi which is currently unwinding.

I suppose it depends on what you consider "main street". I noticed the largest amount of people asking me about cryptocurrencies in 2017, during the last run-up.

> I bet a lot of Main Street investors will probably not come back to crypto after this is all over.

I had similar thoughts in 2018.

The Fed didn't raise interest rates in 2018 like they just did though. The era of free money is over. That has affects on the whole economy, not just crypto. But where conservative main street is content with meager returns, just enough to beat inflation, the promise of crypto, especially for those that missed out on the during the original Bitcoin boom, is ludicrous returns which leads to yacht money.

Myopic. Those people learned the lesson and can change expectations. You can't read minds. The market is primarily emotional and using what people feel now to prove your point long term is the same thinking that causes someone to buy Bitcoin at $69k thinking its going straight to one million usd.

When it starts going up hedge funds will jump in..

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