If you were thinking lately that stocks are boring and gold is worse than that, from a volatility stand point, have a look at crypto. Seems like every crypto participant is on waiting mode, waiting for the market to head anywhere. Charts are thrown around with bullish or bearish tags on them, but overall, the space is quite.
Blame the weekend for that, not the rapper of course. Or we should rather blame uncertainty/whales. The thing is that, at least from my opinion, whales are pushing Bitcoin up and down, they've been doing that for years and who knows for how long they'll be in control fueling this uncertainty for us, plankton and minnows. As long as weak hands are handing them cheap Bitcoin, we're probably gonna keep on witnessing this game play.
Seems that retail is hard to wake up to the show and usually when that happens, it's too late. In a decade or so from now, it will probably be more difficult to manipulate the market, as they're doing now, as the total market capital will significantly increase in size, but for now we have to deal with the game as it is.
The past bull market, and seems that this one is replicating it for this matter, looks like almost all shitcoins are benefitting from capital being poured into them. I will restate what I said a few months ago: this bull cycle, same as the previous one, will offer the chance to every shitcoiner to make money.
We haven't got to the point where fundamentals are the core factors pushing the prices up or down, but with every halving and mass adoption leap forward, we're gonna see a mass triade. Yes, we will probably have occasional pumpers such as Elon Musk with "his DOGE", but not on the scale of 2017 bull market.
Proof of Working Product
That will be the main factor for a crypto asset to see its price appreciating. Projects such as Hive are definitely well positioned to do good during such an era. There are high chances that competitors will emerge out of the blue, but they'll have to earn their spot on coinmarketcap. We've earned ours and we ain't done yet...
When it comes to DeFi, NFTs and other new trends that are being born, the maturation process will definitely churn them. Same as with tech companies, social medias, the dotcom bubble and so on. The speculative side of crypto will gradually "loose its volatility". Without such a maturation churn, crypto wouldn't have a purpose on a long run.
You can't take over the world with shitcoins and tons of bags full of promises. Looking at this space from this perspective, I'm more than satisfied to have invested close to four years of time and energy into a project that's built to be among the Teslas and Apples of the blockchain revolution. I love crypto and I want to do this for all my life. Have a great weekend peeps!
Thanks for attention,
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