FIL is an extremely 'influential' coin in the cryptocurrency circle, with a luxurious team, strong marketing, and a rich storyline.
Filecoin became well-known across the country, and by 2021, it was almost known by everyone.
Under the operation of capital, the project side made a fortune, but those who invested in mining machines in 2021 suffered.
After May 2021, the price drop was inevitable, it belonged to the trend shift to a bear market.
However, the crazy sales of mining machines are not much related to the trend background; they are purely caused by some people's FOMO.
Of course, everyone has to pay for their understanding; making a wrong choice at the wrong time, losing money is inevitable.
The purpose of discussing this is to tell everyone one thing: the 'myths' in the current cryptocurrency circle are all carefully designed by others in advance.
Perhaps many people do not understand, let me first show you a picture, then you will understand FIL's: rise and fall.
The first picture shows the complete market trend chart of FIL, with the launch date starting from June 1, 2018.
Many people still think it was launched on October 1, 2020. Seeing such a sharp increase, they definitely believe it will reach 1000 USD.
The truth is not that complicated; it's 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 spending even a little mental effort, the results are naturally not ideal.
The first picture is the complete price trend chart of FIL; due to the long time period, the monthly line is chosen for clearer reality.
From May 2022 to April 2024, a full two years, there have been four attempts to surge past 12 USD, but unfortunately, all have failed.
The reason is actually quite simple, from the K-line trend, the position of 12 USD is not just the 'ceiling' of this wave.
From June 2018 to May 2020, its price was also consistently below 12 USD, unable to break through for a long time.
So this coin has its own rules; although it won't be exactly the same, the history that has emerged can be referenced.
However, it is important to note that FIL no longer has new stories, and with a large number of people being stuck, its future potential has greatly diminished.
However, there is one benefit, that is, FIL's washing is still very bloody, and the frequent spikes have also thrown many people off.
Holding FIL at this point means passively accepting it, and it is important to focus on laying out new funds or large capital investments; it is still advisable to be cautious.
As for whether the subsequent bull market can reach 100 USD, I would like to share a coin with everyone, EOS, which can be used as a rough reference.
Every wave of bull markets will produce a top-tier traffic coin, which is very good in all aspects, but once it is harmed by capital, it's different.
The originally 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 people and teams say: we will surpass BTC and ETH, but in the end, they basically slowly exit the historical stage.
I mention this to alert everyone about the current cryptocurrency circle in 2024 because I have a premonition that similar 'mythical coins' are about to emerge.
If nothing unexpected happens, FIL will be the second EOS. I know many people are still firmly holding FIL, but the final outcome is merely missing out on another round of a big bull market.