The bull market in 2013 was dominated by Bitcoin. At that time, Bitcoin was like a popular meme coin, rising wildly, and there was no concept of value coins.

In the bull market of 2017, Ethereum was in great glory, ICO triggered a big bull market, and being listed on a large exchange was considered a "value coin", but many value coins of that year have now disappeared. In the bull market of 2020, Defi emerged, and then experienced NFT, chain games, and the metaverse, and ended in a zoo carnival. Defi is essentially a nesting doll game. If the assets are not in debt, it will be unbalanced, such as the death spiral of luna; FTX was due to the exchange's blood transfusion and the broken capital chain. NFT is a small picture hype, similar to online stamps; chain games are Ponzi games in the guise of blockchain. These were once called value investments.

In the bull market of 2024, it seems to be back to the beginning. Bitcoin is the only dominant currency, and the altcoins rely on crazy emotions (fomo), and no longer care about the so-called value VC coins. Meme coin gives power to the community, and the value of retail investors is considered to be the real value. This is in line with the core of decentralization and the original intention of Bitcoin creation, and it is both a social experiment and interesting. #美联储宣布降息50个基点