Explicación gráfica de la situación actual del mercado: Los ajustes son inevitables y es más difícil descubrirlos.

Autor original: THE ALTCOIN INVESTOR

Traducción original: TechFlow

1. Compared with previous cycles, we are still in the early stages .

2. Market adjustments are inevitable.

In previous cycles, the market has experienced much deeper corrections. For example, the correction in 2016-17 was between -25% and -35%, while the correction in 2020-21 reached -50% to -63%.

Source: Glassnode

3. While liquidity is the same as in 2021, the number of tokens has increased 50 times.

In other words, it is now much harder to find tokens that offer 100x returns .

4. Bullish catalysts.

• Bitcoin ETFs continue to see inflows

• Ethereum ETF is coming soon

• Regulatory shift

• Interest rates are at historical highs, and have already started to fall in the EU and Canada

• Stocks at all-time highs

• Gold nears all-time high

• Stablecoin supply is at all-time highs

• Circle’s stablecoin complies with MiCA standards, driving financial and commercial integration

• Stripe integrates stablecoins

• PayPal’s new $PYUSD growth ($405 million issued)

• Blackrock promotes asset tokenization

• Newly issued altcoins have fallen by about 80%, resetting valuations

• Polymarket gains traction outside of crypto-native space

• Blockchain is finally starting to scale

Finally, when the issues with Germany, the U.S. government, and Mt. Gox are resolved, the final suspense will be cleared.

5. Potential bottom signal: ETH sentiment is now at its lowest point in 2024 and is close to turning negative.

Possible opportunity: DeFi valuation is low

In the summer of 2020, the cryptocurrency world witnessed a phenomenon that came to be known as “DeFi Summer.”

This period marks an important turning point in the adoption and development of decentralized finance (DeFi) platforms.

At the time, users frequently jumped from one DeFi project to another, chasing higher rewards.

The frenzy brought massive selling pressure, which, combined with token unlocking by investors and team members, caused the price to drop by more than 80% from its all-time high.

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