The teacher has abstracted the root causes of bulls and bears for us. It’s amazing👍🙏

#LiuChangyong.Ph.D. "Web3.0 and Industrial Thinking"

"Every big boom in the market is brought about by decentralized innovation. Let’s look back. First, in 2013, it was Bitcoin’s decentralized currency; in 2017, it was decentralized securities; I just talked about the emergence of ERC20, which is the decentralization of the securities system; in 21, it is DeFi is the emergence of decentralized exchanges; this time in 2023, I am still not sure whether Inscription Innovation can support the entire big market and bull market? But at least this innovation, the innovation of Ordinals protocol and Inscription Coin, has a decentralized core. This innovation is inside, it decentralizes the issuance of Token tokens, and it does bring a period of several months and half a year. There is a bull market left and right. There may be further decentralized innovation in the future. Every bull market is like this, driven by decentralized innovation. Of course, after the bull market started and people became more enthusiastic, they no longer cared about decentralization. The further you go to the end of the bull market, the more blurry the early decentralized innovations will be, because the more people come in, the more people will see. Most of them are wealth effect and rate of return. Therefore, the further we go, the further we deviate from innovation. Precisely because it deviates further and further from innovation, the bubble becomes bigger and bigger. This bubble will eventually burst, so the bear market will definitely come. It is also because of this reason.

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