Title: Is it Time for a Long Bear Market? The Potential for Miracles in the Crypto Market
Introduction: The current market has been lackluster, leaving many investors feeling low. However, it is uncertain whether this situation will persist and lead to a long bear market. Reflecting back on the last bear market, it reminds me of a similar situation towards its end. In early 2020, I wrote an article expressing my concerns about the lack of innovation in Ethereum’s applications and the absence of significant external investment. At that time, I believed that even if a bull market were to follow, it would not be strong, and Bitcoin’s peak would likely range between $20,000 and $50,000. However, within a few months, a miracle happened. Compound introduced governance tokens, and the concept of liquidity mining emerged, triggering the DeFi frenzy and launching the last bull market in full swing. Sometimes, miracles happen unexpectedly.
The Crypto Market’s Potential for Miracles: In my opinion, the crypto ecosystem is the most innovation-friendly, accessible, and likely to produce miracles among all high-tech ecosystems worldwide. I strongly believe that the next miracle in the crypto ecosystem is just around the corner. Although the current market conditions are bleak, we should not lose faith in this vibrant and energetic crypto ecosystem. Even if we endure a prolonged period of this bear market, as long as we hold our ground, patiently waiting for the next miracle, the heavens will reward our perseverance and patience.
Recommendations for Cold Wallets: I cannot recommend a specific cold wallet as my friends and I use both OneKey and ImToken.
Fuel for Scalability: Fuel is a modular blockchain and a unique scaling system within the Ethereum ecosystem, focusing on expanding Ethereum’s capabilities. I have participated in some operations within this blockchain.
Vitalik’s Thoughts on Sharding: Based on Vitalik’s recent articles, he has not emphasized the development of sharding. Therefore, I believe that in the short term, his focus will not be on sharding. Instead, he will concentrate on strengthening interoperability between second-layer scaling solutions and resolving any issues that arise.
Linea and Scroll for Profitability: Although I occasionally engage with Linea and Scroll extensions, I personally avoid participating in activities such as POH due to my aversion to such practices.
Prospects for ORDI: Regarding ORDI, I still believe that once the bull market arrives, ORDI’s performance has the potential to surpass that of Bitcoin. I would not buy it at around $50. A while ago, when it was in the $30 range, I purchased some.
Opinion on MATIC: I believe the Matic team has consistently performed well. They have launched several projects, and their ZK CDK development is increasingly being used by various projects to create new ZK second-layer scaling solutions. Therefore, I have not paid much attention to its price, and I have kept the majority of my Matic holdings, except for a portion that I exchanged for OP and ARB recently.
Evaluation of Magic: The positive news I am aware of is that the project team is currently developing second-layer scaling solutions for Ethereum. This is indeed a promising path to explore, and considering the current environment, I cannot think of a better way for projects to regain momentum.
Opinion on SATS: I have not sold a single SATS coin and have been holding onto them. I will wait for the bull market to sell them.
