Have you missed all the 2023 inscriptions, Solana mobile phones, PEPE memes, and skyrocketing mining company stocks? Facing the new year, let us review the mental mistakes of the past year and welcome the wonderful 2024 in the future.
(Preliminary summary: Thank you for having you in 2023″ Review of 8 major events in the currency circle: the advent of Ordinals, USDC decoupling, PEPE meme currency…)
(Background supplement: Collection of 2023 Get Rich Stories: Don’t be anxious after reading this, look forward to us becoming the next one)
Looking back on 2023, it can be said to be one of the most complicated years in the history of the currency circle. On the one hand, many people are reeling from the setbacks after the collapse of FTX. On the other hand, there are also many people who have seized the once-in-a-lifetime moment of getting rich and started from the bottom. Turn over. For this reason, Dongzang will take readers to review these bottom rebound opportunities, the potential and underlying emotions driving them, and for those who may have missed it in the past year, we will conduct a review of the market, mentality, and possible prospects for 2024. We will review the trends and look forward to a fruitful year for everyone in 2024.
Keywords – contempt
If there is one word that can run through the common characteristics of 2023 rock bottom turnaround projects, it may be “contempt”. The BRC-20 inscription and Solana Saga mobile phones have appeared since the beginning of the year, and the meme coins PEPE and PoW mines have appeared in April. The wave of bankruptcies of mining companies in May and June. In the market atmosphere at that time, it can be said that when the market encountered these projects and innovations, almost no one expected a rebound at the end of the year and in the future.
The despised wizard – inscription
Since January 21, the Ordinals protocol has been officially launched on the Bitcoin mainnet. Due to the upgrade of the Taproot protocol, the cost of packaging data in the Bitcoin system has been greatly reduced, allowing Ordinals to start their experiments, and the wizard picture NFT generated at that time was as high as 3.96 MB, which almost fills the entire Bitcoin block, and also makes the Bitcoin Core community consider it a spam attack.
No one expected that these spam messages are now worth tens of millions. The first Ordi, even many exchanges and ecological funds began to enter, becoming the biggest upset project this year.
Further reading: The largest block in Bitcoin history!Packaging “Taproot Wizard NFT” was criticized for occupying resources
Extended reading: ORDI breaks through $80 and hits a new all-time high!The market value jumped to 1.7 billion, and the BRC-20 track exploded
A treasure picked up from the garbage dump-Solana mobile phone
In 2022, Solana released a new user interface-Saga mobile phone, which will be launched in early 2023. With past failed experiences such as HTC Exodus 1, the market’s response to the mobile phone can be said to be dismissive. If it is a 3C The product itself is also seriously substandard. The Saga, equipped with Qualcomm Snapdragon 8 Gen 1, is in an awkward position in a market where the mainstream of the market is already full of mobile phones with the next generation flagship chip Snapdragon 8 Gen 2.
But everything did not go as the prophets expected. This symbol as Solana’s most loyal user finally became a symbol of sky-dropping wealth after the outbreak of Solana at the end of the year. People at the beginning of the year probably did not expect to buy a Saga mobile phone. , Solana will actually give you money, and even have countless airdrop rights in the future.
Extended reading: Solana mobile Saga is on sale at 40% off!The original price was $1,000 and no gas was purchased: 599 was taken away
Extended reading: Solana “Saga mobile phone” has been speculated to be more expensive than iPhone 15! Multicoin Expectations: More Solana Airdrops in a Year
Further reading: Solana’s Saga mobile phone sales surge 10 times!The airdrop coin BONK that comes with buying a mobile phone has exceeded the selling price
The power of being laughed at – PEPE
In the currency circle, myths and the same model usually fail to succeed a second time. For example, at the beginning of the year, when everyone thought that viral dog memes such as Doge and Shiba could not continue, Reddit and the 9GAG mainstream meme PEPE went sideways. Kong was born and became a new meme force, even driving a whole set of Reddit concept meme coins to skyrocket. Looking back at April, PEPE’s market value was only 29 million US dollars, which was already after a 1000% surge. Today, PEPE has 5.81 billion, and even reached 1.5 billion US dollars at its peak. It can only be said that those who laughed at this green ugly frog are now extremely anxious.
Extended reading: Wall Street makes money from PEPE! Suspected BlackRock fund address “10 times profit exit”
POW mining and mining companies, once thought to be extinct, have skyrocketed
As Vitalik ascended to the throne and shouted that PoS was more environmentally friendly and faster in transactions, the whole world seemed to have given up on the PoW project, and all funds and VCs poured into Layer 2 to pave the way for the Ethereum throne, but look at the list of growth rankings within one year Here, there are several shining new PoW stars that are coming in force. Projects such as Kaspa, Dynex, and Alephium have all achieved annualized returns of more than 1800%. However, the public still seems to sneer at PoW.
Extended reading: POW Mining Dark Horse》Kaspa currency price has hit a record high again, rising by more than 1,000% this year
In addition, Bitcoin mining companies have also become more difficult as Bitcoin becomes more difficult, and many companies have entered the stage of bankruptcy and reorganization. However, in just a few months, the general environment of mining companies has quickly changed from bankruptcy to A popular financing project, when all mining companies are increasing leverage to purchase mining machines at the end of the year, those who buy the stocks of mining companies at the bottom have already made money that far exceeds the increase in Bitcoin.
Extended reading: Bear market bottom signal?Bitmain acquires “bankrupt mining company” and buys 54 million shares of Core Scientific
Extended reading: Buying Bitcoin mining companies makes more money! Marathon Digital’s stock price rose 800% year-on-year, and its trading volume surpassed Tesla and Apple
Other honorable mentions
In addition to the above-mentioned, there are many huge profit-making moments in 2023, such as Friend.tech, the Bank of America thunderstorm leading to the decoupling of USDC, etc., but the emergence of these themes is more like accidental and black swans. Others include the negative premium of GBTC returning from -60% Stable to -5%, Crestia airdrop, DePin track Helium, Helium Mobile and other themes have been laid out for a long time. In the next 2024, I believe there will be many projects that have not yet come to fruition and are ready to go.
Extended reading: Brother Maji opens Friend.tech! The price breaks through 4ETH in 10 seconds, buy 100 Keys yourself
Extended reading: What is the DePIN project Helium Mobile? 20 mg of 5G all-you-can-eat, tokens skyrocketed 2,400% in 2 weeks
What can we learn?
Looking at the above experiences, we can see that whenever something new appears in the currency circle, people in the bear market are always full of doubts and have no faith in the opportunities brought by all those who build and innovate. Therefore, we should learn to use a broader perspective. Look at things with your mood and don’t underestimate the possibility of anything.
- Stay open and don’t rely on past experiences to predict future success or failure.
Of course, we must be cautious. The cryptocurrency field is still filled with many Ponzi schemes. With the bull market coming, will our limited funds still miss the opportunity? Therefore, the bottom line and principle of establishing a FOMO is the only way to keep your property. It doesn’t matter if you don’t make money, but it is more likely to be lost until you have no money.
- Don’t always feel anxious and FOMO when you see others making money. Set limits for every impulse.
Although technology can never be predicted, it is unrealistic to seek accurate predictions and expectations for the future in these processes. However, looking back at the legend of the currency circle, we can still find some rules, and these rules will continue as long as they continue in the future. exists, there will still be many profit opportunities;
And some laws that cannot be summarized, such as meme coins, may also be a law in themselves. Don’t underestimate these non-objective and irreducible social forces, which may continue to exert force in the future.
- Find the eternal laws in the field: for example, PoW is immortal
- Memes are never scientific. Don’t underestimate the underlying power of any community. You must start to understand through community consensus.
Looking forward to 2024, I believe it will still be the same as 2023. Some people can seize the opportunity, and some people are anxious after missing it. But the reason why we are human is precisely because we can use ourselves as a mirror, dress appropriately, know the ups and downs, understand the gains and losses, and face the There are infinite opportunities in the future, including Bitcoin spot ETFs, possible interest rate cuts by the Federal Reserve, Bitcoin halving, Ethereum Dencun upgrade, RWA entering the traditional financial field, etc. Compared with 2023, readers and authors only need to be prepared , all cities will surely welcome a fruitful year. Let us be humble, open-minded, and boldly welcome this potentially promising year. I also wish all readers in Dongzhu District a happy New Year and a fruitful Year of the Dragon.
Extended reading: 2024 in the eyes of crypto VCs: When will the bull market start, and which track is the most profitable to bet on?
Extended reading: The start of the bull market has gathered “6 major fuels”: US interest rate cut in 2024, Bitcoin, Ethereum narrative, encrypted AI…
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2023-12-29 11:20:19
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