In the early days of cryptocurrency, existential risks like government bans and market collapses preoccupied investors. However, as adoption increased, these fears have largely diminished.
Despite the fading existential risks, the crypto industry now faces a significant concern: irrelevance, which threatens its position as a maturing asset class.
The situation echoes the early 2000s enthusiasm for emerging markets, which eventually faded as investors shifted focus to more lucrative opportunities that delivered returns.
While there's ongoing development in crypto, including bitcoin ETFs, interest may wane if the market fails to show the robust returns that attract investors.
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