Really looking for an enlightened and stimulating conversation. Appreciate all of the contribution thus far.
So when I made this post, I was speaking very generally. It has now been an entire week. I think a few things have rippled into the crypto space. First of all, I think that there without a doubt was a drain of about 100b USD out of the crypto market (not sure on the exact amount) whether or not this was directly related to the sensationalized and dramatic price rise of certain stocks in the american equities mkt, or if somehow it had something to do with BTC options expiring late last week. One thing for sure, there was a fairly substantial capital drain from the crypto mkt. I tend to think the former. OR the big players just pulled out of positions to drive down the prices btc and eth, only to reenter at the beginning of this week.
Going out on a limb, assuming that a lot of players retail or not or maybe even a combo of the two ,got out of that whole fiasco. Those who were able to get out and had the appetite for fast gains, which this space is soo fondly known for especially in a mkt state like the one we find ourselves in now, enter the crypto market. First pump n dumping doge and then (sorry if I am forgetting any other insignificant coin in between) xrp. Who ever was able to execute profitable trades then moved onto to BTC and ETH. Since the SEC's' announcement regarding xrp's status I liquidated my entire position. I bought back in with little exposure. Definitely took a loss but it wasn't crushing. Literally the only coin worth fomoing into and the only coin that I would. Anyways, we are now seeing new players in the mkt.
This new money is literally destroying portfolios. One pump n dump to the next, seemingly rinse and repeating self in the same coins. Not telling anybody to expect to get ride an xrp pump again. They don't seem too interested. Just Hold your xrp. Furthermore besides BTC, ETH there doesn't seem like there is much interest in anything else besides this bull markets trends. Just doge coin and the newest DEFi, NFT that have sprouted up in the years since 17/18 bull market. Even though I get feelings of a bubble, I know we are nowhere close. It is different this time (i.e. arguably better infrastructure, institutional players etc.)
Assuming that there is this grand ALT-Season, do you see a lot of these projects that were trending during the last bull run returning to their ICO pump prices? Is this a perpetual trend of one replacing the other? It seems like every bull run is characterized by a trend in addition to BTC movement. What was the trend before ICO's, privacy tokens?
How long can you see Doge getting pumped and dumped before people realize that there isn't much value and any gains can't possibly be sustained in the long run. (Let's hope to God, or whomever, that this little hellhound of a coin isn't willing itself into a greater existence. I do really find it annoying that it has been stealing soo much of the limelight from much more deserving ALTS, potentially even disrupting their TA.
So some micro/macro topics of the mkt rolled into one, my apologies. Just interested in market factors and characterizations of each bull mkt and the differences between them all.