As I said before, this wave of rise is indeed nearly doubled compared to the previous bottom.
However, the liquidity of the entire cryptocurrency market is still very poor, which can be seen from the trading volume.
The previous MEME summer brought about a continuous decline in assets other than BTC and ETH. This shows that overall liquidity is still flowing out. Market sentiment is still pessimistic.
I discussed with a friend before that the liquidity tightening caused by the Fed's interest rate hike and the continuous innovation of AI have made capital more inclined to AI, because the emergence of ChatGPT has made capital see the huge potential of AI, while WEB3 has made them not see such great expectations. Recently, many projects' IDO and coin issuance, or abortion and death, have actually made WEB3 VCs cautious and pessimistic. Without the continuous inflow of capital, I really don't know where the bull market will come from. The withdrawal of some institutions will inevitably tighten the liquidity of the entire industry, leading to a sharp drop.
Believe me, there will be gorgeous fireworks in the second half of the year. Hold coins and prepare to buy at the bottom. Maybe it is really the last drop. The BTC halving next year will bring an epic market. The ecological development of Ordinals has given miners the motivation to continue mining. In the future, the income of BTC miners will be largely supported by handling fees, rather than BTC output.
Some people have always wondered, if BTC is halved, the number of miners decreases, and the computing power decreases, what will happen to BTC's leading position?
And Ordinals gave the answer.
