Four Rounds of Bull Markets in the Crypto World, Getting Rich is More Difficult

1. 2013 Bull Market: The Birth of Gods

Features: A11, A12 everywhere

Hoarding coins, faith, mining, Wu Jihan, Shen Yu, Wang Chun

BETA is enormous, ALPHA is not important, as long as you don't get off the bus, you will become rich.

2. 2017 Bull Market: Heroes Competing

Features: A11, A12 still exist

Those selling water and issuing coins made a fortune

Exchanges in fierce competition, coin issuing in fierce competition, typical figures are CZ, Xu Mingxing, Li Lin's three major exchanges, as well as Sun's TRON tokens, etc.

Also includes V God’s ETH explosion.

This is the Age of Discovery in the crypto world; as long as you dare to run a casino, or dare to print chips, or build a public chain, you could become Top 1.

Now, this window period has completely closed.

3. 2021 Bull Market: On-chain and Institutions Dance Together

Features: The wealth creation ceiling has decreased compared to the last round, except for FTX, retail investors may only have those like BEEPEE with temporarily high profits, and ordinary people are increasingly less likely to make a comeback.

Moreover, there were more failures this round, such as SBF, Do Kwon, Three Arrows Capital, while those from the previous round are even stronger this round.

In this round, the majority of new gods challenging the old gods from the previous round end up failing miserably; basically, those trying to chase after CZ and others need to leverage and play Ponzi schemes, ultimately leading to disaster.

Class structures are starting to solidify!

4. This Round of Bull Market: The PVP Era of Not Passing the Baton

Features: A9 has become the ceiling for retail investors

Those making money this round are Meme coins, hair-pulling studios, VC harvesting, and quant trading

Among the newly wealthy, those like HYPE's JEFF are no longer considered retail, as they are part of the top tier of the world.

Meanwhile, figures like Murad and Ansem may be around $100 million, with the most formidable in the Chinese market possibly being VIDA.

In addition, MEME-related projects like PUMPFUN and PEPE's project parties are considered outliers, but project parties actually provide no guidance for retail investors.

Compared to the last round, it still feels like a shrinkage.

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Why is it becoming increasingly difficult? The important factor is that the environment is changing; it may be somewhat like the prisoner's dilemma. There isn't much growth in the industry anymore, and the value projects being speculated this round are still the AAVE from the last round, and there are so many smart people, leading everyone to desperately think of various ways to harvest.

Upon careful consideration, isn't every role involved in harvesting?

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