Note: This article comes from @gm365 Twitter, and is compiled by Mars Finance as follows:
@ 0xsebastiena yesterday expressed some views on this bull market. I personally feel that they have certain reference value. With the help of GPT4, the free translation is as follows for your reference:
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When discussing this bull market, I would like to share some views and prospects:
- Although ETH and BTC have reached new highs, the world seems not to have noticed.
- BTC, as a digital version of gold, has begun to be included in investment portfolios by the traditional financial community for diversification. The move has intensified, making it difficult for managers to turn a blind eye, especially as prices rise and customers ask why they are not participating as well as their competitors. This is due to the exponential effect.
- BTC price fluctuations are inevitable as holders will choose to take profits. Although those early millionaires were rich, they were unwilling to sell easily. Saylor may be silent. Those traditional finance companies that bought ETFs for US$50,000 and made a profit of 40% must adjust their positions in accordance with regulations and then cover their positions at a higher price.
- BTC’s price fluctuations will tend to calm down, and the next ten years may be more like the SP500 chart, slowly but surely climbing the wall of worry.
- Although a bull market is often followed by a bear market, the continued rise of BTC gives builders the opportunity to start again.
- The current cycle is dominated by natives of the crypto space.
- Although Western retail investors have re-entered the market, they are still cautious. They no longer blindly chase SOL or NFT, but mainly purchase assets listed on Coinbase. BASE has a chance to attract those patriots, and others in Europe and Asia will follow suit.
- Zero-knowledge proofs (zk) are at an interesting stage: while its community is well aware of its power, the outside world is just starting to realize it. For Ethereum, expansion is a problem, and only zk can provide a solution.
- Retail investors in emerging markets make money through airdrops. When the market trend is improving, they either continue to speculate or choose to wait and see, and eventually enter the market again.
- Liquidity comes from desire for BTC ETFs and large token issuances/airdrops. Both of these reinject liquidity into the system.
- The current mainstream narrative revolves around memes and AI, like a game of musical chairs, where the key is early participation, the circle you are in, and the level of alertness.
- The market capitalization of most tokens does not match their poor liquidity. You may make a lot of money, but good luck facing slippage that ruins the chart.
- Those new tokens launched by well-known teams on new networks will perform well, and the new networks will support them through marketing and liquidity support.
- Many projects have learned (sometimes the hard way) the importance of community, especially in a market dominated by fanatics and natives. You either fit in or you get left behind.
- In emerging markets, payment services have huge value. USDT has long understood this and has become the largest project in the encryption field with the strongest product-market fit. Builders in the crypto space still seem to be struggling to understand this, and they need to build simple, clear, and useful technology that can serve emerging market users seeking stability and financial autonomy.
- DeFi has basically taken shape. AMM/Dex, lending, perpetual contracts, etc. will improve slightly due to lower computational costs. Blue-chip coins are favored for their stability and trust. L2 and alternative L1 platforms have their own versions and tokens, which are ways to make money.
- In the West, entertainment and speculation remain mainstream uses. Sectors such as gaming, gambling, and collecting are still active and will soon be expanded to music, art, and sports. To study Pudgy's success and Yuga's mistakes (serious mistakes in a bear market).
- BTC’s L2 project will perform well. Many projects are under construction, and while most may not succeed, a few are sure to stand out. Expect a huge narrative and mindset shift regarding BTC availability.
