Because every crypto bull run has wild concepts and ideas that spread like wildfire memes and turn FOMO into euphoria, so each post-crash bear phase has its own related events and themes, which can push crypto into a new cycle.
Looking back at the past few years in crypto, there are key behaviors that will remain in the collective memory as driving bullish sentiment, or starting chaos. Some will be a warning about how not to do things in the future, while others can be a block to grow and improve.
MicroStrategy and Michael Saylor
A core characteristic, and a major selling point, Bitcoin, is that when it has cheerleaders and supporters, there is no CEO, no figurehead, not a single individual who is responsible for taking either flak or plaudits.
Bitcoin was created by Satoshi Nakamoto, but it may not exist. That is, Satoshi may have been an alias of one individual, or of a group of pioneers, but in any way, whoever he really is, he seems to have strayed from his creation once it has been released.
This is a critical step, marking bitcoin as genuine in its purpose (to be truly decentralized, accessible to everyone, and beyond corruption), but it also means there are no leadership figures to explain what it will do, because for example, Vitalik Buterin or Charles Hoskinson in Ethereum and Cardano, respectively.
In place of these characters, a variety of independent bitcoin experts have stepped up, delivering negotiations with an incredible level of commitment, in a room that is sometimes near-empty, when there is a shortage of more educational content.
This changed recently when MicroStrategy Co-Founder and CEO, Michael Saylor, signed all bitcoin. MicroStrategy currently has 129,699 bitcoins, purchased at a price of $ 3.98 billion, with purchases beginning in August 2020.
The most recent purchases were made during May and June, showing unwavering confidence in bitcoin despite difficult market conditions. This is the kind of unhesitant conviction, combined with the ability to persuasively articulate bitcoin’s power, that has seen Saylor become a highly visible champion for the bitcoin cause. This includes appearances in unrelated major media cryptosuch as which interview with Fox News ’Tucker Carlson.
Bitcoin, of course, remains unchanged and will continue to function regardless of what is happening in the news media or who is talking about it, but still Michael Saylor has had an influential role during this phase of bitcoin’s existence. In fact, some Saylor latest suggestions could be a lesson learned by many investors as we proceed from this latest crypto cleanup: “Bitcoin is the only investment-class cryptocurrency.”
No Place for Centralization
There is a common theme that comes to mind when you see large entities shut down due to a crypto crash, which is that they ignore decentralization. This is seen in the mismanaged crypto hedge fund Three Arrows Capital, which it faced liquidation and bankruptcyin the case of Celsius, a CeFi operating in financial turmoil, and when considering the possibility of further market contagion take out centralized services.
That CeFi the label refers to a system that offers some of the investment benefits available in DeFi, but manages it through a centralized structure. A clear reminder that Celsius is not decentralized is that when it comes to freeing user withdrawals, it is a move that clearly removes them from the critical space where crypto has evolved.
So what is the bear market teaching here? During the last cycle, the DeFi platform spun profits for those who worked out the mechanics, and has continued to function as intended. However, when centralization and overwhelming influence enter the crypto equation, creating a precarious, opaque platform with questionable practices, the delayed result becomes, perhaps unsurprisingly, a series of devastating collapses.
From a broad perspective, it appears that crypto will, eventually, punish those who deviate from its core objectives, particularly decentralization, and will be treated brutally because, by design, there is no controlling authority to grant relief.
In the future, when crypto recovers, we should hope it will be true DeFi mechanisms continue to evolve and improve, while centralization and reckless methods employed by some of the major players in this cycle are avoided in sight.
Real Utilities and Crossover Technology
When it comes to cryptocurrencies other than bitcoin (which are intended as digital currencies and can be used as a store of value), in future cycles there may be higher expectations that cryptocurrencies have clearly understandable applications that provide value to users.
NFTs were available at a glance at this early stage, we saw that it was possible to own and trade digital items without relying on a centralized database. The fact that some observers don’t like certain digital goods that are currently being sold, or are thrown away by the flip-and-profit culture that emerges around them, is irrelevant. The important signal, if you eliminate distractions, is that these items can be sold entirely.
More blockchain utilities in all sectors should be expected, as a continuation of the trend towards digital items gaining value and gaining attention. In addition, blocks should not operate in a bubble, and as advances are made in other tech fields, VR, for example, we can see areas now separate development threads together in a novel way.
Because every crypto bull has wild concepts and ideas that spread like memes and turn FOMO into euphoria, therefore each post -crash bear phase has its own related events and themes, which can push crypto into a new cycle.
Looking back at the past few years in crypto, there are key behaviors that will remain in the collective memory as driving bullish sentiment, or starting chaos. Some will be a warning about how not to do things in the future, while others can be a block to grow and improve.
MicroStrategy and Michael Saylor
A core characteristic, and a major selling point, Bitcoin, is that when it has cheerleaders and supporters, there is no CEO, no figurehead, not a single individual who is responsible for taking either flak or plaudits.
Bitcoin was created by Satoshi Nakamoto, but it may not exist. That is, Satoshi may have been an alias of one individual, or of a group of pioneers, but in any way, whoever he really is, he seems to have strayed from his creation once it has been released.
This is a critical step, marking bitcoin as genuine in its purpose (to be truly decentralized, accessible to everyone, and beyond corruption), but it also means there are no leadership figures to explain what it will do, because for example, Vitalik Buterin or Charles Hoskinson in Ethereum and Cardano, respectively.
In place of these characters, a variety of independent bitcoin experts have stepped up, delivering negotiations with an incredible level of commitment, in a room that is sometimes near-empty, when there is a shortage of more educational content.
This changed recently when MicroStrategy Co-Founder and CEO, Michael Saylor, signed all bitcoin. MicroStrategy currently has 129,699 bitcoins, purchased at a price of $ 3.98 billion, with purchases beginning in August 2020.
The most recent purchases were made during May and June, showing unwavering confidence in bitcoin despite difficult market conditions. This is the kind of unhesitant conviction, combined with the ability to persuasively articulate bitcoin’s power, that has seen Saylor become a highly visible champion for the bitcoin cause. This includes appearances in unrelated major media cryptosuch as which interview with Fox News ’Tucker Carlson.
Bitcoin, of course, remains unchanged and will continue to function regardless of what is happening in the news media or who is talking about it, but still Michael Saylor has had an influential role during this phase of bitcoin’s existence. In fact, some Saylor latest suggestions could be a lesson learned by many investors as we proceed from this latest crypto cleanup: “Bitcoin is the only investment-class cryptocurrency.”
No Place for Centralization
There is a common theme that comes to mind when you see large entities shut down due to a crypto crash, which is that they ignore decentralization. This is seen in the mismanaged crypto hedge fund Three Arrows Capital, which it faced liquidation and bankruptcyin the case of Celsius, a CeFi operating in financial turmoil, and when considering the possibility of further market contagion take out centralized services.
That CeFi the label refers to a system that offers some of the investment benefits available in DeFi, but manages it through a centralized structure. A clear reminder that Celsius is not decentralized is that when it comes to freeing user withdrawals, it is a move that clearly removes them from the critical space where crypto has evolved.
So what is the bear market teaching here? During the last cycle, the DeFi platform spun profits for those who worked out the mechanics, and has continued to function as intended. However, when centralization and overwhelming influence enter the crypto equation, creating a precarious, opaque platform with questionable practices, the delayed result becomes, perhaps unsurprisingly, a series of devastating collapses.
From a broad perspective, it appears that crypto will, eventually, punish those who deviate from its core objectives, particularly decentralization, and will be treated brutally because, by design, there is no controlling authority to grant relief.
In the future, when crypto recovers, we should hope it will be true DeFi mechanisms continue to evolve and improve, while centralization and reckless methods employed by some of the major players in this cycle are avoided in sight.
Real Utilities and Crossover Technology
When it comes to cryptocurrencies other than bitcoin (which are intended as digital currencies and can be used as a store of value), in future cycles there may be higher expectations that cryptocurrencies have clearly understandable applications that provide value to users.
NFTs were available at a glance at this early stage, we saw that it was possible to own and trade digital items without relying on a centralized database. The fact that some observers don’t like certain digital goods that are currently being sold, or are thrown away by the flip-and-profit culture that emerges around them, is irrelevant. The important signal, if you eliminate distractions, is that these items can be sold entirely.
More blockchain utilities in all sectors should be expected, as well as a continuation of the trend towards digital items that gain value and gain attention. In addition, blocks should not operate in a bubble, and as advances are made in other tech fields, VR, for example, we can see areas now separate development threads together in a novel way.
