Many people have a soft spot for FIL (Filecoin), mainly because of the large losses on FIL. Many people are unwilling to give up and always want to make up for the losses by holding FIL. Some people often ask me, how will FIL perform in this bull market? First of all, we need to understand why FIL performed well in the last bull market. From a fundamental point of view, the vision of the FIL team is to build a decentralized storage network, which is very attractive. However, the team seems to focus more on marketing and publicity. Therefore, in 2020 and 2021, both the currency circle and other circles have heard about FIL. With the support of a high-sounding vision and various mining machine publicity, coupled with the background of the bull market, the price of FIL has been rising all the way. Many people have invested hundreds or even tens of millions to buy FIL mining machines. However, when the tide recedes, we know who is swimming naked.
When the bull market peaked and began to fall, the owners of major mining machines realized that their investment was based only on vision rather than actual returns. The cost of FIL miners is higher than that of other miners. Not only do you need to buy mining machines, but you also need to buy coin pledges, and there is a time limit. Faced with changes in the market environment, it became impossible to recover the investment, and miners lost confidence, causing the price of the currency to fall. During this period, many believers bought the bottom of the market, from $120, $90, to a few dollars. So, can FIL return to its peak in this bull market?
