To those still holding on in Crypto: More frightening than a bear market is collective silence

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Author: haotian

If you want to continue earning a living from Crypto, you must understand these principles:

1. Looking back at previous cycles, the crypto industry has almost always had to nearly die to be reborn; a 90%, 80%, or 70% crash followed by a V-shaped recovery is normal. High volatility is the industry’s fundamental characteristic, but don’t forget, so is its strong resilience—it's unkillable;

2. CEX exchanges have never been the saviors of the crypto industry; to some extent, they don’t even belong to the crypto industry. Making money through transaction fees on trading platforms is eternal. Whether the platform trades mainstream cryptocurrencies, MEME coins, or US stock futures, crude oil, or precious metals, it doesn’t matter;

3. There are indeed many VC project “scams” in the on-chain narrative innovation this round, but ultimately, what will lift the crypto industry out of decline are powerful, grand narratives again and again. Just like DeFi in 2020, NFTs in 2022, inscriptions in 2023, and Agents in 2024, the continuity and height of narratives determine the depth of the bull market and the difficulty of post-bubble rebuilding. But without “innovative narratives,” the crypto industry really can’t make it;

4. Twitter’s CT is flooded with voices either driven by FOMO, sharp and pointed, or conflicting and confrontational. These are all manifestations of poor secondary market performance. Just take a look and pass the time. If the day comes when the crypto industry faces a cross-step decline, no one can remain unaffected. As I always say, all you great “US stock traders,” please respect the path you’ve taken;

5. The vested interests or early profit-taking OGs—some have retreated into seclusion, some have gone behind the scenes to do evil, and some are still stubbornly preaching and holding on. This is not scary; what’s scarier is that most have chosen to remain silent. The cost of silence will definitely be the continued fermentation of “bad money driving out good,” and the “consensus” damage this causes to the industry is the most deadly.