With the markets in decline and some of the major crypto players facing serious challenges, there is always the temptation to think that perhaps the traditional financial advisors may have a point in their own money management strategies which has proved somewhat successful through the decades.

The system has worked for the better part of the century, and sometimes we crypto investors may seem a bit arrogant in the way we rule out any of the warnings from the traditional finance system, often dismissing them to be out of fear and spite rather than a genuine concern about the workings of a potentially revolutionary new financial system.

Over the last couple of weeks we have witnessed some of the biggest validations of financial stability in play. The crash of Luna/UST Terra sent shock waves round the space. More recently, we have DeFi company Celsius Network placing a hold on transactions for its estimated 1.5 million users. All these are bound to affect price and more importantly investor confidence in the short run.

Why Then Forge Ahead?

This does not mean the long term goals have been compromised in any way though. I am surprised when people quickly hop on the failure of one crypto company to mean a failure of the entire space. This is as inappropriate as it is inaccurate. Even in the traditional financial system, Billion dollar companies fail all the time but no one makes the same comparison.

The lack of equity in making comparisons may be due to the longevity of the current monetary system, or the fact that it is heavily supported by governments, or even out of sheer spite towards crypto. Nonetheless, it will be very unwise to listen to those who do not have the space's interest at heart to be decent advisors in such matters.

The Point

Are there lessons to learn from the current system in place though? I believe there are. We definitely need some stability going forward and no doubt the crypto space needs a lot more improvements for it to be truly accepted by the mainstream. But that in itself is the point; as we are only just getting started. Critics fail to point this out when making assumptions, and the accomplishments are often relegated at the face of criticism.

Conclusion

Crypto remains the future and irrespective of the number of crashes we have this year, it doesn't change that fundamental truth. We are going to see a more ubiquitous adoption of blockchain technology in the future, and the success stories will far outnumber the failures.

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