The Bull Market Now Compared To 4 Years Ago
(Edited)
We are in another crypto bull market. This has people looking back to compare to what was going on 4 yours ago. Since others are doing it, I figured I would take a stab at it.
In this video I discuss how the industry is much different than the last time. This is going to have an impact, I believe, on the markets, which are financially driven. Here I go through some of the different variables in an effort to compare the two time periods.
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It definitely is true that the current run is massively different from the one four years ago. Especially since we got large corporations like Tesla and Grayscale buying tons of BTC and even large banks like Blackrock and Goldman offering crypto related services. But this only makes me believe that BTC will end up being the big guys money and most of us will have to look for opportunities elsewhere.
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I still find bull runs very strange and illogical so they at least have that in common :P
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I dont. Dopamine rushes for months on end.
Markets are run by fear and greed. Bulls kick greed into overdrive. It is the main driver of the moves especially towards the end.
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Summary:
The video discusses the current state of the cryptocurrency industry compared to four years ago during a bull run. The speaker highlights the differences between then and now, emphasizing the increased development, infrastructure, legitimacy, and involvement in the industry today. He talks about the influx of money into the industry, the validation provided by big players like Mark Cuban and corporations, and the challenges of maintaining decentralization. The speaker also touches on the growth of DeFi and NFTs, the potential for market pullbacks, and the interplay between market dynamics and industry advancement.
Detailed Article:
The speaker delves into a retrospective analysis of the cryptocurrency industry, comparing its current state with that of four years ago, particularly during a bullish period. He opens by emphasizing the transformative evolution that has occurred in the industry, highlighting the substantial progress in terms of development, infrastructure, and overall maturity. Unlike the past, where much of the industry was driven by speculative ICOs, there is now a greater emphasis on tangible projects built on established blockchains, boasting track records and decentralized ecosystems.
The speaker discusses the impact of the increased influx of money into the industry, both through direct token investments and venture capital, as a means of validation for the sector. He notes that this validation is crucial for many, as it signifies broader acceptance and trust from institutional players, celebrities like Mark Cuban, and corporations investing in cryptocurrencies like Bitcoin. Despite his personal stance on not needing external validation, the speaker acknowledges its importance for many participants.
An essential theme throughout the video is the battle between maintaining decentralization and fending off the centralizing influence of big investors and corporations. The speaker underscores the necessity of retaining the core principles of blockchain technology, advocating for decentralized development and funding to safeguard ownership and financial success within the industry.
The discussion extends to the interplay between industry growth and market dynamics, with the speaker pointing out that while the industry is solidifying its foundation and witnessing genuine innovations like DeFi and NFTs, the market remains subject to the volatile forces of fear and greed. He addresses the possibility of market pullbacks, particularly in the context of Bitcoin, acknowledging the inherent cyclicality and unpredictability of market movements.
In conclusion, the speaker reflects on the overall impact of industry advancements on future market trends, highlighting the potential for sustained growth driven by legitimate projects and advancements in the blockchain space. He invites audience participation by encouraging them to share their views in the comments, fostering an open dialogue around the complex interplay between industry evolution and market dynamics in the cryptocurrency space.