How is this crypto bull market different from the last cycle?

Author: Mippo Source: General Assembly. Many people are asking the same question: "Is this cycle happening too fast? Does that mean it will be shorter?" Frankly, this question resonates with me. The 2018-2020 bear market was much worse than this. It lasted almost a full year and the disillusionment was 10 times worse. The entire industry is in jeopardy, and every day the bear market drags on, the situation will get worse.

2022-2023 isn’t that bad in comparison.

If you are building an on-chain product, you may not even feel the existence of a bear market at all.

The project still received funding, and even in the heart of Bear City, the conference still attracted 20,000 people.

This is nothing like 2019.

This raises concerns that we are not suffering enough.

To me, this is a bit superstitious.

I understand the argument that leverage needs to be unwound and hype needs to cool down, but that happened.

Half the industry has been wiped out.

I looked around today and saw all the signs of the early stages of the cycle.

We are in the midst of a classic spot market rally led by Bitcoin, whose dominance appears to be reaching its peak.

This paves the way for a huge rally in ETHBTC, which should be the next phase.

There are many other health indicators, thanks to @intangiblecoins: https://twitter.com/intangiblecoins Discover and point out these indicators. Both MVRV (which can be understood as the combined cost basis of all Bitcoin holders) and the ratio of long-term holders to short-term holders indicate that the cycle is in the very early stages.

Although Coinbase has risen in the App Store rankings, its ranking is still low.

As a reminder, last cycle Coinbase remained at the top of the overall App Store app rankings for nearly a year.

Now it ranks only 14th in the finance category and 156th among all apps.

I think the best way to understand the current situation is, The bull market has begun.

There is no reason to expect it to be longer, shorter, or any different than any other cryptocurrency bull market.

Many people say this (bull market) is different because of ETFs (exchange-traded funds).

While some of the arguments in support of this view are compelling, I don’t buy them.

The market will always find a way to introduce leverage, and eventually leverage will cause the bubble to burst. People will take profits and sell. These are eternal truths.

Nonetheless, I think ETFs will accelerate the trend of buying lows and selling highs, as more lows are bought and more highs are sold over time , volatility should decrease.

But this is already happening. This is an existing trend, not a new one.

There is no reason to believe that this cycle will be shorter (or longer) than past cycles.

The idea that "we haven't suffered enough yet, so the bull market will be worse" is superstitious at best.

Stop worrying and just enjoy it, this is the fun part.