Just noticed that #Bitcoin currently accounts for 63% of the total cryptocurrency market cap, the highest level since early 2021.
I think the stage that is really worth discussing among the several waves of bull markets is the period after the price rose from $1,000 to $20,000 in 2017. This wave can be regarded as the public FOMO that has come to the global vision, and the cryptocurrency circle also has the fuel for the altcoin season.
In the bull markets of 2017 and 2021, Bitcoin's market share has declined significantly, representing the take-off of other altcoins. Now Bitcoin's market share is approaching its peak...
With the participation of traditional financial investment institutions, everyone's risk appetite has decreased, everyone is quite conservative, and risk aversion sentiment is rising.
However! At this time, it is very likely that the starting point of the big narrative of small currencies will appear to start the battle to grab the market share of BTC, and new growth stories are vacant.
I’m not referring to random stories like the PVP Golden Dog. There are always opportunities on the chain. I’m referring to grand narratives like Defi/NFT that are grand-sounding, beautifully packaged, and can tell long-term stories.
Don't listen to some people saying that this one is finished, that one is finished, there is no new stuff, this circle is over, etc. Just tell them to get out and never pay attention to them again.
In this circle that is closest to money, what is least lacking is funds and storytelling skills. I believe this very much.
