Are We Witnessing What Happened in Early 2018?
Is it that time again where we witness history repeat itself?
If you have been in the crypto space for years, you should be witnessing a similar pattern to that that happened a few years ago!
I don't remember exactly when this happened, but I know it did happen.
It wasn't pleasant to watch back then and it is happening again now!
This post is going to be a shocker for most of you as I am sure it is not going to be the topic you expected to read about!
I know we all associate early 2018 with some extreme negative experience that got ingrained in us!
I know the title might be misleading, but not entirely though.
As a heads up, I am not talking about the 2018 bear market, far from it.
So what I am talking about here, you might ask yourself?
In the next few paragraphs below, you will find out exactly what this post is about.
Late 2017 Bitcoin Boom
We all remember that in late 2017, bitcoin made a new ATH of $20,000 and the whole crypto space celebrated.
I remember that time vividly as I was still new in the space and some people(me too) made easy money only fr the markets to dump massively for the next 3 years or so!
If we can remember very well, towards this 2017 Bullrun and just after, the word "blockchain" became so popularised that many people and companies FOMOed into it!
We saw lots of companies spring up claiming to be solving world problems with blockchain!
All a company had to do was come with a concept and just tweak their company name or description to include the word "blockchain", all this was because blockchain was trending because of bitcoin.
I personally remember reading about many of such companies, unfortunately, most of them died when the bear run hit.
Bear runs don't care how fancy the name or description of your project is haha!
Do you see a similar pattern lately?
If you are so keen then you must have seen something similar happening now and I guess history will repeat itself.
Most of these new projects coming up won't survive the next two years or so!
I am not a prophet of doom, but I am just basing on past projects.
As I told you earlier that this post will shock you and I guess it has already!
Most of you thought that I was going to talk about the bear run that left us working as restaurant waiters back then hehe.
Are We Witnessing what happened in Early 2018?
Let us dig deeper into this and see if history is repeating itself.
If you have read this far, then indeed you are interested in knowing what I am going to share!
I know most people will just read the title of this post and comment " No we are still in a bull run" hahaha
" We are still in hodling strong".
Metaverse, NFTs, P2E, Web 3
Do those words above sound familiar to you and what comes to your mind when you see them scattered all over the place?
I have to admit that whenever I see a project "claiming" to be the best NFT, metaverse or P2E project I feel like puking!
I know puking is an extreme reaction, but boy, it is disgusting seeing all these new projects claiming shit they won't deliver.
If you have been here long enough, we all saw those projects that promised to tackle many world problems using the blockchain? Where TF are they now? Gone.
Ever since NFTs, Metaverse, P2E and Web 3 began trending, most wannabe projects took over.
I think as human beings we naturally don't want to miss out ie FOMO and we can do anything not to miss.
Have you realized lately that even some old crypto projects have silently added metaverse, NFTs, web 3 branding onto their profiles?
The companies that will succeed are those who had the NFT, Metaverse, P2E concept from the start and not those who just attached those words to their profiles recently!
I am against it because many newbies will lose out trying to chase these projects that will not even survive in the next 2 years.
Anyway, I think I have rumbled a lot already.
The platform this post originally appeared on is called Hive and has been running some of these "new concepts" for years now!
First of all, Hive is Web 3, has the most successful P2E game called @splinterlands, need I say more?
So if you want to learn more about these new concepts like Web 3, Metaverse, P2E and the likes join Hive!
Damn did I just make an Ad about Hive?
Maybe yes or not.
Anyway, my question remains, are we witnessing what happened in early 2018?
Will these new "bandwagon" projects survive the test of time?
Let me hear your thoughts in the comments below.
Posted Using LeoFinance Beta
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Smart money is that went through a crash. So people need experiences with investing and if they’re serious then they will figure it out and become a good long term crypto investor
Posted using LeoFinance Mobile
You are right people need experiences with investing, unfortunately most of the people who make loses always go out and taint Crypto badly!
So I think it's better we guide the newbies so that they don't go through what some of us went through!.