AI sucks blood, is the cryptocurrency market going to turn into a bear market?
1. The valuation of some projects is not low. Compared with the value targets of US stocks, the valuations of the top value coins BTC and ETH in the cryptocurrency circle are already not low.
2. The bubble of ecological projects is huge. The cryptocurrency ecological projects generally have huge bubbles and huge selling pressure - people are not sober and stop playing altcoins, but they are numbed by altcoins and then play MEME.
The market value of altcoins is 10 billion, there are 30 living people on the chain, and 500 million selling pressure is expected to be digested every month. Where is the value?
3. MEME is unsustainable. MEME is consensus and emotion, and PEPE is the most eye-catching representative among them, but after rising to billions of US dollars, if you want to rush up again, the amount of funds required will become larger and larger. Without the massive funds in 21 years and top KOLs like Musk, shouting 100 billion to each other in the community - I have seen too many of this in the NFT family group, and every time I am the one who shouts the loudest and cuts the most.
As we all know, I love MEME the most, because I am personally most sensitive to emotions, communities, markets and narratives, so I make a lot more money from it than value coins, but just because I understand MEME, I don’t think MEME can carry a round of copycat bulls.
How speculative the emotions of MEME are, how fanatical the participants are, how tragic it will be when it collapses. Please believe this, this is the objective law of this world.
4. AI will continue to suck blood. The AI narrative of the US stock market attracts big funds from all over the world to rush in. They are revolutionizing, and all this will continue under the background of low value and high bubble in the currency circle.
What if the US stock market collapses? Sorry, the currency circle will only collapse more miserably.
The last sentence summarizes: The passage of ETH ETF will only be a short-term positive. The combined force of the above multiple parties will most likely force the market to move towards its direction of least resistance.
