The craze for copycat projects has shifted to the stock market, seemingly dampening morale, but isn't it also a form of affirmation? It essentially confirms traditional capital's recognition of crypto assets.
Even though funds can only temporarily revel in the stock market due to the current relative disconnection between the crypto and stock markets, the trend of mutual penetration between the two remains unchanged. Those businesses and assets that possess scarcity in the crypto market will ultimately usher in their own glory.
Jobs not finished.
The current situation of the cryptocurrency market being a copycat of the U.S. stock market is quite awkward. Looking back over the past two and a half years, the wealth effect of cryptocurrency has actually been poor. Not to mention Bitcoin, very few altcoins have outperformed Nvidia, let alone $PLTR, $APP, and in the crypto stocks, $COIN, $MSTR, $HOOD. A short-term pulse is meaningless; what’s more important is whether it can return after adjustments. However, many cryptocurrencies in the market (and many hot stocks in the U.S. stock market may also be the same) may never return after a pulse. From an asset perspective, in addition to returns, we also need to consider sustainability and certainty.
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