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The past couple of days have really shocked me with the volatility in the US stock market.
It feels like I'm back in my early days in crypto.
I don't know when it started, but the volatility of mainstream crypto assets has been getting smaller and smaller.
In the past, native crypto players were, in essence, here to get rich overnight.
They weren't here to listen to earnings reports, nor to calculate annualized returns.
What they wanted was volatility, a story, and a slim chance to turn things around.
But now that mainstream assets like BTC and ETH are maturing and their volatility is becoming more like traditional assets, this group of people—the most adventurous—will inevitably search for new frontiers.
US stocks, prediction markets, AI, space, robotics...
As long as there's a huge narrative and wild volatility somewhere, they will go there.
Sometimes I wonder if I've gotten a bit old.
When studying US stocks, my first reaction was to look at old crypto financial assets like CRCL.
Instead of talking about space, AI, and the future of humanity like Musk does.
The young market is always searching for new legends.
But old "diamond hands" always instinctively grab onto what they're familiar with.
Given the current iteration of the crypto industry, will young people in the future still talk about decentralization? Stories like fiat BTC?
I no longer believe it. Do these outdated narratives still have any growth potential?