Author: Haotian

Talk about some views on the current primary and secondary markets:

1) The current debate on bull and bear is meaningless. You should know that in addition to the continuous rise and fall of the currency price, bull and bear are mainly supported by the market's expected consensus.

If the market agrees that most projects are "garbage", exchange listing becomes the end of the journey, and the "good news" produced by the project party is ignored, then the current "bear market" is undoubtedly.

A market with "consensus" expected collapse is more terrifying than simply having no "price".

2) At present, the Crypto environment seems to be easier than ever, but it is harder than ever.

From the initial construction of decentralized infra in the ICO market, to the previous Cycle market upgrading and iteration around technological narratives, to the outbreak of institutions' adoption of main upward waves and MEME Coin wealth effect, until finally, Crypto's expected spot ETFs were finally fulfilled, with the support of US friendly encryption, compliance bills and plans are also on the way, and all "external factors" seem to be improving.

But in contrast, what projects are Crypto itself truly irreplaceable? What kind of technology is infra that can be implemented on a large scale? What narratives are so true that they will not be falsified? What coins can accompany you in your growth for a long time? Or are there any MEMEs that can sleep well overnight? ... I believe that when I think of these "internal factors" problems, most people are confused.

Obviously, only the favorable factors of external factors and no internal value support, the market will still be in a "chaotic" state. If we put aside the value tracking and invest in the irrationality of macro-population, it would be too painful, right?

3) The problem is here, what should I do? Calling for a return of technical narratives, it is obviously not possible without the new innovative application of old technology projects. Similarly, criticizing the MEME market for irrationality is also because it avoids the main contradiction that technology cannot be implemented. Everything is actually a systematic problem of the industry itself, long-term opacity, potential manipulation, unregulation, excessive profit-seeking, etc."Game + Internal Consumption" facilitated by factors.

To break the deadlock, the process will definitely be painful and must be handed over to time. For example, how to reasonably estimate a valuable project, how to make those worthless harvesting projects lose their survival soil, and how to make some new narrative directions continue to evolve and develop, etc.

From a perspective, when the market speculation trend of "assets are as numerous as bulls" has passed, and after all the markets are down, the opportunities for value investment will truly come. Even if there are many garbage projects, there will always be some teams with great vision, innovative + execution, and long-term Build, right?

In fact, every round of Crypto industry has overfomo and pessimistic and desperate moments, but it seems that they have all survived it, and they can always get unexpected solutions to break the situation. Looking back, it has been making progress.