Ki Young Ju noted that the psychology of traders, investors and crypto project developers has changed. According to him, these people used to be interested in philosophy and were more active, but now the bulk of market participants are conservatives who are not capable of flights of fancy:
"An industry that does not stimulate the hormone dopamine is doomed to decline. The crypto industry that we once knew is now unable to provide it to either developers or traders. That is why it is in crisis. A new game must appear. Only then will money flood the market and the industry can develop."
The vast majority of developers of interesting projects have disappeared due to bureaucratic pressure and criminal prosecutions, the crypto industry is turning into a “kind of den” dominated by memecoins and boring services, the analyst believes:
"Where did all those developers who inspired us and explored new technologies go? Why did they leave? I don't know. I want to ask Ethereum co-founder Vitalik Buterin."
Traders and investors do not receive fresh impulses and do not generate interesting ideas, and developers create ecosystems that do not relate to cryptocurrencies, but to the traditional financial market, the expert concluded.
Earlier, Ki Young Ju said that he knows to what level Bitcoin will fall. According to him, a correction of the first cryptocurrency is possible up to $47,000, but then the market will recover.
