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The world of cryptocurrencies is experiencing an identity crisis. While Bitcoin recently exceeded $ 100,000, an increasing choir of investors wonders if the wider market of cryptography has fundamentally broken – and if the Boom Altcoin days have disappeared for good.
The debate exploded on Reddit Forum R / Crypto-money When a user has made an austere statement: “Crypto has died in 2021 and we have exchanged the corpse since.” The post, which has collected hundreds of responses, has crystallized an increasing feeling that the landscape of cryptocurrency is permanently the opportunity of exploitation.
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The original poster maintains that the cryptocurrency has gone from a revolutionary financial movement in a sophisticated extraction machine, benefiting mainly from the venture capital and the founders of the exchange.
“The belief system that operated this industry has completely collapsed”, ” The op wroteStressing what they consider to be the end of authentic innovation and community -oriented projects. Unlike optimistic days of 2017, when new blockchain projects have launched authentic excitement, today’s launches are consulted through a more cynical lens.
The figures seem to support some of these concerns. When platforms like Opensea extracted billions during the BOOM of the NFT 2021, current market players describe the “fight against remains”. The promised season of Altcoin after the historic breakthrough of $ 100,000 in Bitcoin never materialized as planned.
A frustrated investor has echoed this feeling: “The Alt season has never really come back. Everything is a scam or a carpet. 99% of the tokens have no use.”
A key factor in this change seems to be the rise in power of the same and rapid freckles, which, according to criticism, has drained retail capital from more substantial projects. Instead of money in innovative blockchain technologies, investors are pursuing increasingly speculative bets on rooms with names like “Fartcoin”.
“The coins / scams have drained all the liquidity of the norm,” said a member of the community. “No Alt season, this bullish market is different from the previous one (cycles), most Alt parts get started and most of the funds go instead in the BTC.”
This dynamic has created what some consider a fundamental barrier to new market entrants. “Anyone who has already joined the crypto and lost all his money,” said the original poster, suggesting that the basin of new potential investors was actually exhausted.
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Interestingly, even the most pessimistic voices of the discussion largely exempted the bitcoin from their criticism. While declaring altered altcoins permanently, many have recognized the unique position of Bitcoin as a digital organ and its continuous institutional adoption.
“BTC has a real use case; Get money where financial institutions cannot. Also an instant money transfer. And of course no retrofing, ”wrote a defender.
Bitcoin maximalists have entered the discussion to strengthen their long-standing conviction that most cryptocurrencies are not unnecessary distractions of Bitcoin’s fundamental value proposal. “If you do not understand / do not distinguish between” crypto “Shitcoins and Bitcoin, we can do nothing to help you,” wrote one of them.
Not everyone accepts the story of misfortune and groom. An important part of the community has rejected with data based on data, emphasizing recent institutional adoption and regulatory clarity as signs that the largest phase of cryptography growth could still expect.
“Big Money was not even legally able to buy BTC,” said a respondent. “Banks, countries, companies, wealth or pension funds, etc. could not buy (the stock market capitalizations were too risky and the laws were not there). The laws change before us now. ”
These optimists indicate impressive yields even during the supposed “dead” periods. Bitcoin holders who bought for 2021 are $ 29,000 to $ 46,000 are seated on 200% to 300% earnings today. Ethereum buyers at $ 900 and Solana investors at $ 10 have experienced substantial yields despite the wider market discomfort.
Perhaps more revealing, some members of the community have argued that focusing on price action is completely the point. The development of blockchain continues independently of token values, new financial products and technological innovations constantly emerging.
“Technology. Do not worry.” We are still building better products, better financial assets … A ton of projects with regard to work. “
This perspective suggests that if the speculative mania of 2021 can indeed be finished, the underlying technological revolution continues to progress – potentially preparing the way for more sustainable growth.
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The heated debate reveals a transitional market, captured between speculative excess and technological maturation. For investors, several key dishes are emerging:
For investors opposed to risk: Consensus seems to promote Bitcoin as the most defensible cryptocurrency investment, with its institutional adoption and its finished supply providing a clearer investment thesis than most alternatives.
For Altcoin speculators: The days of easy yields 100x on random tokens appear largely. Success now requires much more capital, research and calendar than in previous cycles.
For long -term believers: Those who focused on blockchain technology rather than rapid benefits can find current conditions ideal for building positions in fundamentally solid projects for reduced assessments.
That the crypto “died” in 2021 or simply maturing depends on its definition of success. If success means that retail investors easily multiply small wealth investments that changes their life, the current environment seems more difficult.
However, if success means building a sustainable financial infrastructure and in accordance with the regulations that can serve institutional and detail users, the current “boring” phase could represent the necessary growth pain rather than death.
The Japanese stock market comparison raised by the original poster is particularly sober – the Japan Nikkei index has taken over 30 years to return to its 1989 summits despite continuous economic growth and monetary expansion.
As a member of the community noted: “When BTC was 1K, people said what you say, when he hit 20k, people said what you are saying.” Whether this model continues or ruptures can determine whether the criticisms or champions of the cryptography prove in the long term.
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