The s&p500 is breaking ATHs, BTC hit a new ath this year and is consolidating right bellow waiting to make its move passed it again.
You're all in denial about alt season repeating like in former cycles. I see it everyday with people buying up shitcoins and everyone in those "communities" claiming they're all going to go 4x their previous ATH "once the bullbrun starts."
News flash. This is the bullrun. Previously, people would take BTC profits and pump up larger cap alts, take those profits and go to small caps and finally micro caps. More people are holding onto their BTC. Look at the charts, theres far fewer flash crashes. All metrics suggest this including BTC in cold storage and more inactive wallets than ever. This BTC progression in previous cycles saw the alt coin market going nuts. At this point, You could do a 4x on any random binance pair. The fomo was crazy. There's none of that now. Just bleeding alts to BTC.
Furthermore, people are skipping out on the larger cap speculation for the meme coin defi market. Raydium is seeing all the volume that traditionally went to CEX listed alts.
"But meme coins are stupid and serve no purpose, I only buy "serious" projects.
News flash. The alt coin you've been holding for 5 years is just as useless as ElonBadgerCoq on trader Joe's. It's done nothing. The team has accomplished nothing. You know this and still try to justify your investment so you can separate yourself from the degen gamblers buying cat tokens on some DEX. I don't care how many transactions it can do or the speed of finality or what company is rumored to have plans to use it. Its the same meme coin hype shit, just a smaller scale.
Yes, some projects will pump in the next year. Yes, some projects are genuinely good with great developers making amazing tech. But most of the alts you're buying and holding with the expectation of past price action will not return to ATHs. Price aside, whatever goals on your teams roadmap mean fuck all. There's not that many problems a speculative token fueled blockchain can fix that some traditional network can't do better, faster and cheaper. No major publicly sold company cares about how decentralized something is.
Downvote me all you want. I know you really care about whatever ETH killer youve been stacking and holding. Some of you will get lucky and I hope you do. But for most, its not happening.
The reason why meme coins are so popular is because it's the streamlined, super fast paced version of the entire crypto market. It's the final format. A launch, a bunch of hype, the coin bleeds out, some people make some money, most lose. The coin drops close to 0 with all the bag holders claiming it will return to where it was. Rinse lather and repeat.
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