One of the biggest mistakes made by both crypto markets and investors was designing cycles based on the previous bull season.

The year 2021 occurred in the unique context of a global crisis triggered by the COVID-19 pandemic. Expecting a similar scenario was generally incorrect, as events like the COVID-like crash are once-in-a-century occurrences ("Black Swan" events). The world had previously experienced similar situations, such as the global malaria outbreak, and the recovery had taken much longer.

The COVID period was essentially a public relations (PR) year for Bitcoin and cryptocurrencies. Blockchain technology was experienced en masse for the first time by millions of people confined to their homes. The outcome was good for many, but bad for others. Analyzing based on past years was insufficient; this recent period was primarily shaped by the Solana ecosystem (which took heavy damage from the FTX collapse but recovered) and the "meme coin" frenzy. Limited liquidity, revolving around the Solana ecosystem and the meme sphere, led to quick pumps and dumps in these areas.

Those who waited for a change while holding "old dinosaur" tokens with high market caps, such as Dogecoin, EOS, NEO, and ONT, fell into a serious delusion. It’s clear that most of the tokens that were in the top 15 by market cap in 2017 are not there today. This was hard to accept, as major companies like Meta (Facebook) reframed their brands around Web3, creating a strong FOMO effect. However, this was an inevitable natural selection for the market.

This chain of events aligns perfectly with the core philosophy of the 5th-century B.C. philosopher Heraclitus.

His philosophy of "Panta Rhei" (Everything flows/changes) can guide us today:

"You cannot step into the same river twice: For the river is not the same river, and you are not the same you."

• The River's Meaning: The water molecules you stepped on a moment ago have flowed away, meaning the body of water you step into next is completely different. Thus, the crypto market is in a state of continuous becoming, like a river.

• The Person's Meaning: You, the investor, have also aged, acquired a new idea, or simply changed physiologically between those two moments. The investor self is in a state of continuous change, just like the river.

This saying emphasizes the idea that the only permanent thing in the universe is change itself, highlighting that flexibility and adaptability are key to success in the crypto markets.

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One of the biggest mistakes made by both crypto markets and investors was designing cycles based on the previous bull season.

The year 2021 occurred in the unique context of a global crisis triggered by the COVID-19 pandemic. Expecting a similar scenario was generally incorrect, as events like the COVID-like crash are once-in-a-century occurrences ("Black Swan" events). The world had previously experienced similar situations, such as the global malaria outbreak, and the recovery had taken much longer.

The COVID period was essentially a public relations (PR) year for Bitcoin and cryptocurrencies. Blockchain technology was experienced en masse for the first time by millions of people confined to their homes. The outcome was good for many, but bad for others. Analyzing based on past years was insufficient; this recent period was primarily shaped by the Solana ecosystem (which took heavy damage from the FTX collapse but recovered) and the "meme coin" frenzy. Limited liquidity, revolving around the Solana ecosystem and the meme sphere, led to quick pumps and dumps in these areas.

Those who waited for a change while holding "old dinosaur" tokens with high market caps, such as Dogecoin, EOS, NEO, and ONT, fell into a serious delusion. It’s clear that most of the tokens that were in the top 15 by market cap in 2017 are not there today. This was hard to accept, as major companies like Meta (Facebook) reframed their brands around Web3, creating a strong FOMO effect. However, this was an inevitable natural selection for the market.

This chain of events aligns perfectly with the core philosophy of the 5th-century B.C. philosopher Heraclitus.

His philosophy of "Panta Rhei" (Everything flows/changes) can guide us today:

"You cannot step into the same river twice: For the river is not the same river, and you are not the same you."

• The River's Meaning: The water molecules you stepped on a moment ago have flowed away, meaning the body of water you step into next is completely different. Thus, the crypto market is in a state of continuous becoming, like a river.

• The Person's Meaning: You, the investor, have also aged, acquired a new idea, or simply changed physiologically between those two moments. The investor self is in a state of continuous change, just like the river.

This saying emphasizes the idea that the only permanent thing in the universe is change itself, highlighting that flexibility and adaptability are key to success in the crypto markets.

Follow

Farcaster + Base + Lens: tum4y

X:tum4y4

Thank you for reading!