This is the worst crypto time period I have encountered in the past 7 or 8 years:
1. Although BTC and ETH have passed the spot ETF, investors are paying for Grayscale in 21 years and various major events in the past. The huge amount of funds accumulated in the past years have been sold in recent months, which is extremely cruel to the leeks that come in later
2. In any period of time in the past, no matter how depressed the market was, there were some currencies that had independent market trends. The secondary market often rose several times or dozens of times in a few months, but now no currency has an independent market trend, let alone an independent market trend for several months, even for one day. All follow the market, like zombies, and are repeatedly cut by the market
3. The crypto circle used to have constant hot spots, but from April this year to now, there has been no hot spot hype. Even good news has been interpreted as bad news, and bad news has been interpreted as bad news
4. Contracts are actually a cancer of this industry, which is extremely unfavorable to the development of the industry, but now it has become the way for most people to participate in this industry. Why is it a cancer? Here are the three most important points: 1. If you are bullish and want to buy at the bottom, you can go long directly instead of buying spot. This will not only reduce the industry's trading liquidity, but also be detrimental to the start of the encrypted market; 2. Contracts are easily manipulated, undermining the fairness of the market and easily going out of the market; 3. If more and more people participate in contracts, then more and more people in this circle will become gamblers, etc. There are too many destructive factors to interpret one by one
5. The core of the encryption circle is decentralization, and the original intention is also decentralization. Now it is deeply linked to the politics of the United States and large institutions, and the degree of linkage in the market is much higher than other markets. An encryption industry that focuses on decentralization or is the father of decentralization has now become the most centralized industry
Talk about it, make a fuss about it, but this industry is still the most fascinating
