You in the crypto world have more than just contracts
Indeed, this is a fact
Another fact is that there hasn't been a season of altcoins for a long time
Using a fundamental fact, 2017 was led by the innovation of ETH's smart contracts and ICOs in the cryptocurrency industry
Got the first wave of going mainstream with a large influx of capital
At that time, the number of cryptocurrency holders may have been less than 30-40 million
How high can a one hundred million dollar pump be? It's crazily high
A token skyrocketing dozens of times is called normal
Rising hundreds of times is called a good project
And in 2017, the market's definition of cryptocurrency and most players was still speculation - believers remain few
In the subsequent four years, speculation triggered a bubble, a large number of speculators and gamblers jumped off high buildings
And this dream bubble burst from the construction of the bubble
Watching those videos and materials from back then also made me think perhaps money, currency, and gold
It itself is a narrative told by the first half of human history
It is just a story, a narrative
And when most people believe it
One will not see the towering debt of US bonds
One will not see how much of the total money supply in the US is debt
Just like ancient Roman coins
Its credit is gradually heading towards collapse
And the so-called gold and diamonds
It is just to make most people believe they have value
2019-2021 (1/4) ⬇️
Despite the emergence of narratives around DeFi and decentralized finance
And the NFTs from late 2020 to 2021
With the pandemic and macroeconomic policies
Causing the market to experience a large amount of capital with nowhere to invest
Quickly flowing into high-risk assets
Allowing emerging industries to develop rapidly
Also allowed the stock market to perform well in growth stocks in the early days of the pandemic
Besides cryptocurrencies, new energy vehicles
And various types of growth stocks should see a wave of capital inflow
And Cathie Wood's fund has also started to come into the public eye
A large amount of capital is pouring into the crypto space
From 50 million to nearly 200 million people
But most people lack concepts
Do not even understand what blockchain is?
What are cryptocurrencies, NFTs, and DeFi?
Most people just want to come in and make money
Some people bought NFTs because of celebrities and influencers
Some people are because of news about someone getting rich overnight
There are also some people who were scammed or caught in capital games
Falling into a trap
And this speculation has driven Bitcoin from 3-4000 all the way to 69000, with a bored ape also being speculated to several million dollars
And the same friends who jump off buildings still exist
And overly enthusiastic gamblers still blindly believe
That token (NFT) which has already gone to zero is still held in hand
This story seems to still repeat
A large narrative that is enough to change the world plus technology
Attracting huge amounts of capital to develop
It seems that they don't remember that internet development also took 10 years
And a narrative that becomes popular
Whether smart contracts, DeFi, or NFTs
All of this takes time ⬇️
From the dot-com bubble
It is possible to see how crazy the narrative-driven capital speculation is
And everything is nothing but the building blocks of blockchain (internet)
2024-20??
This time the market does not have a narrative strong enough to change
But institutions capable of changing the world have joined the market
BlackRock is backed by a powerful AI system, Aladdin
The companies and systems that hold one-tenth of the world's wealth
Starting to enter the market and promote Bitcoin and Bitcoin ETFs, currently, they hold over 500,000 bitcoins
And Bitcoin from 35000 to 60000
A large part of the price increase can be attributed to this
Funds are still pouring in crazily? Yes
But these funds can no longer satisfy the current project's appetite
Market users are close to 300 million people
The funds needed for price manipulation
It is no longer like the market in 2017, which had tens of billions of dollars
Can cause large fluctuations
And the market is gradually maturing? Actually, it is not
From 2021 to 2023, thousands of projects have still died
Along with hundreds of smart people
Holding cognitive wealth to exit the market
Feeling life
Was Trump really the last nail in the coffin?
Or is it a new big door?
Trump is backed by emerging technology aides and financial backers
Peter Thiel and JD Vance
One is a supporter of government projects
One is a venture capitalist who has previously worked on venture projects
They all support web3 very much
With Trump's election victory in November 2024
The market has shown certain signals of certainty
Funds dance with Trump
And Bitcoin along with a bunch of cryptocurrencies
Becoming an emotional tool in Trump's trading
Bitcoin went from 67000 to over 100000 in just 3 weeks
Dogecoin from 0.12 to 0.4 also took only 2-3 weeks
Sui went from 0.8 to 4-5 dollars
And there are still a bunch of tokens that multiplied countless times in those weeks
It has also allowed many people to retire
Seeing some people going long on Dogecoin
Rolling hundreds of thousands into 10 million in a week
And many people have made millions of Taiwan dollars in this wave of increase
And some people think this is just the beginning, not realizing
Perhaps this is just part of Trump's trading.....
Subsequent Trump’s support for cryptocurrency seems to no longer stir emotions
Because the money has already exited (Trump's trading)
Or perhaps an early entry (a bet on the future)
Capital begins to retreat and consolidate
Trump's issuance of currency has brought a new wave of peaks in cryptocurrency
Making countless people think he will start leading the meme coin trend
And bought Sol at 295 dollars
The subsequent Trump company seems to indicate that it is indeed the case
The meme coins issued by Trump are very slow in application and token economics, with no white paper or plans
Only to see it cut five hundred million dollars at the peak
And the market has been drained by Trump and his wife
There are still a large number of chips close to 80-90% of tokens
All in the hands of their insider addresses
How they will be used and how to use them
It is difficult to reconnect after the emotions have passed
And as the trading volume in the meme market declines
And the exchanges subsequently joined CEX too slowly
I am worried about the artificial price manipulation
It is just that the market's funding has really decreased significantly
And Trump doesn’t have much
Actual funding policies supporting the cryptocurrency industry
Perhaps the national asset reserve is a policy he likes and loves
But tariffs and rising prices have kept him busy
And the unemployment problem caused by the Doge department
And immigration issues might lead to an economy that doesn't lower interest rates
Did Trump really want to make a big move and wash everyone out?
And asset prices have also dropped significantly
How to save in the future still depends on the macroeconomic outlook
There are really too many questions more important than cryptocurrency
Think about BlackRock and Vanguard
And what they are doing
Can we say this industry
It has officially been incorporated into the financial game circle
It is still speculation, but some stories in this speculation game are maturing and globalizing @shuncchen