To Those Still Holding On in Crypto: What's More Frightening Than a Bear Market is Collective Silence
To those still persevering in Crypto: what's more terrifying than a bear market is collective silence. Author: haotian.
Key lessons for anyone wishing to remain in Crypto:
1) Looking back at past cycles, the crypto industry almost "dies" once each cycle before rebounding. Plunges of 90%, 80%, 70% followed by V-shaped recoveries are the norm. While extreme volatility is foundational, so is the industry's remarkable resilience—it simply won't die.
2) Centralized exchanges (CEX) are not the saviors of crypto; in many ways, they don't even belong to the industry. Running a platform to collect fees is their perpetual goal, regardless of whether the assets traded are major cryptocurrencies, memecoins, stock futures, oil, or precious metals.
3) While this cycle's on-chain narrative innovation is rife with VC-funded "scams," it will ultimately be grand, sweeping narratives that pull the industry out of stagnation. Examples include DeFi in 2020, NFTs in 2022, inscriptions in 2023, and AI Agents in 2024. The scale and persistence of these narratives determine a bull market's strength and the difficulty of post-bubble recovery. An absence of "innovative narratives" would spell real trouble for crypto.
4) The noisy, often polarized, and conflicting voices on Crypto Twitter (CT)—ranging from FOMO to sharp criticism—are largely a manifestation of poor market conditions. It's fine to observe for entertainment, but remember: if the crypto industry were to collapse catastrophically, no one would be spared. A word to the self-proclaimed "stock traders": respect your roots.
5) It's not alarming that early beneficiaries and OGs have chosen different paths—some retreating, some operating behind the scenes, others persisting in advocacy. What is truly dangerous is when the majority chooses "silence." The cost of this silence is the unchecked proliferation of "bad actors driving out the good," which erodes consensus and deals the most fatal blow to the industry's foundation.
marsbit06/05 06:57
