$FIL is a highly 'influential' coin in the crypto space, with a luxurious team, strong marketing, and rich storylines.
Filecoin became famous across the country and was almost known by everyone in 2021.
Under the operation of capital, the project parties make a lot of money, but those who invested in mining machines in 2021 suffer.
After May 2021, the price drop was unavoidable; it belonged to the trend shifting towards a bear market.
However, the crazy sales of mining machines have little to do with the trend background and are purely driven by FOMO from certain individuals.
Of course, everyone has to pay for their understanding; making the wrong choice at the wrong time inevitably leads to losses.
I'm sharing this to tell everyone one thing: the 'myths' in the current crypto space are all carefully designed in advance by others.
Perhaps many people don't understand; let me show you a picture, and you will realize FIL's: rise and fall.
Image one is a complete price trend chart of FIL, starting from June 1, 2018.
Many people still think it was launched on October 1, 2020, and seeing such a sharp rise, they believe it will definitely reach $1000.
In fact, the truth is not that complicated; it is just that most people in a bull market: only look at the present and fantasize about the future.
Without a heart to explore the truth, and without even a bit of effort, the results are naturally not ideal.
Image one is the complete price trend chart of FIL; due to the long time period, a monthly line was chosen for clearer and more realistic representation.
From May 2022 to April 2024, for a full two years, the market had four attempts to surge past $12, but unfortunately, all failed.
The reason is also quite simple; from the K-line trend, the $12 position is not just the 'ceiling' of this wave of market.
From June 2018 to May 2020, its price remained below $12, struggling to break through.
So this coin does have its own rules; although it won't be exactly the same, the historical patterns can be referenced.
However, it should be noted that FIL no longer has new stories, and with a large number of people trapped, its future potential has greatly diminished.
However, one benefit is that FIL's washing process is still very bloody, with frequent spikes shaking off many people.
At this point, holding FIL means passively accepting it; the focus should be on laying out new funds or large investments, and it is advisable to proceed with caution.
As for whether the upcoming bull market can reach $100, I would like to share a coin, EOS, which can serve as a rough reference.
Every major bull market sees the emergence of a top-tier coin with excellent attributes, but once it is poisoned by capital, it changes.
The original pure dream of the founding team will be defeated by reality; all promises, guarantees, and visions are not as good as putting rice in your pocket.
Countless individuals and teams claim they will surpass BTC and ETH, but in the end, they basically slowly exit the historical stage.
I mention this to alert everyone about the crypto space in 2024, as I have a feeling that similar 'mythical coins' will emerge.
If nothing unexpected happens, FIL will be the second EOS. I know many people still firmly hold FIL, but the final outcome will simply be missing out on yet another bull market.
