Why will crypto never grow?
Tempora mutantur et nos mutamur in illis (I didn't learn Latin in school for nothing, it finally came in handy after 25 years).
While the zoomers were typing away, I will continue. So, we are all changing, but my view on the future of crypto remains the same. There is no doubt that crypto in one form or another is here to stay. BTC has already been recognized and accepted. Stablecoins - in fact, already legalized as well.
Large funds and entire states are accumulating, mining, and creating reserves. Unlike 'old format' money, BTC cannot be printed. Unlike gold, it is impossible to find a new deposit that would devalue existing reserves. The rate of mining decreases with each halving. And some portion is constantly going out of circulation: someone died without leaving keys to relatives, and someone just lost those very keys.
Yes, theoretically the system can be hacked, but it will cost more than a trillion dollars - and that's at the current BTC rate.
Since Bitcoin, as the 'driving force of crypto,' has already been accepted and legalized by most influential states, the likelihood of rejecting it and sharp mass bans is approaching zero. And along with BTC - the crypto as a whole, because it is impossible to ban a technology that underlies a legitimate means of payment.
But at the same time, no one says that BTC always has to grow.
This is the market. Lots of demand and little supply - there is growth. Little demand and lots of supply - there is a decline. After the 'black swan' of the FTX collapse at the end of 2022, BTC has only been growing globally with small (for itself) corrections. This means demand exceeds supply.
Which cannot be said about altcoins, whose behavior is exhausting and overwhelming.
And now the lion's share of influencers is sharing their expert opinion that there will be no more altseason because there are too many tokens, people's attention is diluted, and there simply won't be enough liquidity for everything to grow.
And here I cannot agree with them at all.
Find the top-20 CMC from 2013. Compare it with 2017 and 2021. Many matches? Minimal. Now find the number of tokens on CMC in the same years and compare them with each other. The difference will be colossal. Projects die, liquidity leaves them, they lose attention, and most are initially created solely for the enrichment of the founders.
By extracting all the liquidity from tokens of projects that had nothing behind them except greed, they are left with nothing, including those interested in the growth of money bags.
Until 2021, I held a bunch of 'top tokens from 2017.' Some of them never broke their ATH and died. But most did break it, and I was able to sell out. And there was also a lot of garbage from ICOs that flopped, and by 2021 had rolled down to -99.9%. And this was the vast majority of the market. Which did not prevent a powerful altseason.
Yes, a few years ago there were about 50,000 tokens on CMC, and now there are almost 18 million. But 99.5% of them are already dead and will never return. There was nothing behind them, and they were created solely for quick profit.
At the same time, CMC used to list far from everything, only 'valuable' tokens, mostly for free. With the start of the 'big meme season' at the end of 2023, listing became part of the service's business model: the essentially free listing was canceled, the cost of priority started at $5,000, and they began to list absolutely everything for money.
That is, one can say that about 50,000 tokens a few years ago were only projects that had something behind them, and select long-term scams. And out of the 18 million current tokens on the service, almost all are one-day wonders, listed 'for marketing' purposes, as well as to attract quick liquidity from bots tracking listings on CMC, and then instantly rug-pulling right after.
In short, my opinion: there will be an altseason.
But if you stocked up on a bunch of sh*tcoins based on a 'narrative' that existed for a month, 3 days, or even a couple of hours - I have bad news for you.
Well, for those who say that crypto will never grow again, I suggest selling out right now. Otherwise, who will we be unloading to during the growth, if not to experts buying at the highs?
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