For example, on June 19, 2022, Ethereum dropped to over $800. The reason for such a low drop was due to many institutions facing crises, large holders being liquidated, and coupled with the Federal Reserve's interest rate hikes, the external environment was very harsh, which is why it fell to this level.
However, due to the favorable conditions from the Ethereum upgrade, from June 19 to August 14, it rose to over $2000, directly doubling.
Many people believe that the bull market in the cryptocurrency space in 2025 is also based on cycles, and a significant indicator of those cycles is the Bitcoin halving. The Ethereum upgrade can rise against such a harsh environment, so the Bitcoin halving will be even more eye-catching. Moreover, at that time, the external economy will not be so harsh, and it is more likely that the Federal Reserve will inject more liquidity again.
Therefore, many people, including myself, are making plans, preparing to buy at the bottom by the end of next year. However, there are differences among people; some shout about buying at the bottom, but when the real bottom comes, they do not dare to buy. Those who dare to buy at the bottom and hold on can achieve substantial profits.
The cyclicality of the cryptocurrency space will weaken with the rise in Bitcoin prices and the entry of traditional institutions, but at least it remains a very effective indicator for the next bull market and the one after that.
Finally, what I wrote here is not for everyone to see. If you are the type who immediately shouts 'Ponzi scheme' or 'tulip mania', you can just scroll past. There are many people who educate others, but you don't pay attention to them, and you treat the growth of the cryptocurrency space and the long-term consensus that has been built as if they are non-existent, so there is not much to discuss.
Has this world ever not been a Ponzi?
Currently in a bull market, the situation is dynamic, and we have opportunities to share insights every day.
