These last few months, the market sentiment is moving higher, in fact, in the bear market phase of the previous two years, when I have been writing in articles about bitcoin and ethereum fixed prices at $10,000 and $400 respectively, so far there has been about 5 to 10 times increase respectively.
One of the more memorable and exciting periods of this bull market so far is from July to December of last year 2020. At that time, DeFi was a big hit, and there were endless new projects emerging every day, and new ways of playing appeared every now and then. Seeing these projects was like Liu Lou Lou entering the Grand View Garden, feeling that everything was new, wanting to try everything, and buying a little bit of every coin. And many of the new projects that we saw at the beginning just emerged and were very approachable have become leaders in various segments today, and the prices are not the same as the initial issue prices.
Looking back on this journey, this was one of the most important stages of DeFi’s development. Later, especially since this year, I have hardly bought any new coins on a large scale.
For one thing, the new projects that have emerged are not very innovative, many of them are copying the code of existing mature projects and copying the application model to other ecologies (such as BSC, HECO, Boka, Solana, etc.), such projects may be able to win users by virtue of the market resources in the hands of the project team, but they are really not attractive to me.
Second, with the bull market step by step, the vast majority of the former head of the project now has a high price, even if sometimes because of the project good impulse to buy, but see the inflated price, and can not get off.
In my opinion, from the current stage, perhaps the current round of disruptive innovation in the bull market is over here, the rest of the journey is estimated to be the concept of the previously unspeculated, unused value as much as possible to squeeze again. Of course, from the perspective of the development of the whole industry, the current DeFi field is just the beginning of the future of finance.
This is the case with the recent hit Shiba Inu Coin SHIB and Dogcoin. Shiba Inu Coin SHIB is actually a project from last August, while Dogcoin is a much older coin. These two coins are technically uninnovative, but they are worth exploring in terms of concept and play, especially in terms of consensus that can be transformed, so they have become a recent hot topic by chance.
There are many articles online discussing how Musk will continue to treat dogcoin, and there are also many articles analyzing the possible next trend of dogcoin and Shiba Inu coin SHIB, and there are even bold investors who took advantage of the market crash in these days to add to their positions in these two coins in a big way.
I suggest that if you want to participate in this game, it’s good to play with a small gambling mindset, after all, there are not many interesting games that can be played in the market now, but do not take it too seriously, especially in the current market to use such coins as a bargaining chip to achieve overnight riches.
If their subsequent development is really due to the intervention of various factors, the consensus was successfully transformed, that counts as an accident of the current round of bull market, otherwise it may only be the same as the previous rounds of bull market had a flash in the pan of some popular coins, and become history.
In this sense, for me, the bull market has ended here. The rest of the time is just driven by the laws of the market, coin prices fluctuate, cottage projects continue to attract popularity through the residual heat of old projects, the whole ecology is no longer innovative, and the only thing that can stimulate everyone’s excitement is the price of coins.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/recent-random-thoughts-on-bull-market-and-defi/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.