Abandon the fantasy of a (full) bull market and embrace a life of volatility!
Before discussing this issue, let's first align our granularity and unify our understanding. Ask yourself, what does a big bull market mean to you?
I believe that for most people, a big bull market looks like the comprehensive rises of 2020 and 2021, where the only difference is how much it rises, and anything bought will be profitable. I was the same way before.
At the beginning of last year, I was discussing with a few friends how ordinary people should seize the last round of the bull market and when this bull market would arrive. Looking back now, I realize that the bull has long passed us by; BTC has risen from 20k at the beginning of 2023 to now 69k, yet everyone is still waiting for that fully blossoming bull market.
Reflecting back has shown me many things, one of which is that the era of traders has arrived, and the era of holders is deceased. Moving forward, there will no longer be such large-scale comprehensive rises in the crypto space; what will come instead are cycles, tracks, directions, and rises of individual coins.
The last bull market cannot be replicated; externally, the pandemic rampaged and the Federal Reserve loosened its policies, while internally, the ETH ecosystem experienced complete prosperity and explosion, together constructing the last round of comprehensive rising bull market. Everything was filled with historical randomness and the development theory of things; the former is accidental, while the latter is the inevitability of the development of things, which is also why the performance of ETH in this round has been so unsatisfactory, because the story has already ended. Although this may sound a bit harsh, but this is the reality.
