Quote from: o_e_l_e_o on Today at 03:29:38 PM

And so the cycle repeats. I remember back in in the 2017 bull market where people were throwing money left right and center in to every completely pointless and stupid ICO that came along. The ICO bubble burst, the whole market crashed, 99.9% of those shitcoins died and were never heard of again, and bitcoin just kept going as it always does. This time round people threw their money away on picture of monkeys, shitcoins like Luna, and scam centralized platforms like Celsius. But bitcoin will keep going as it always does.

Interesting point, that I hadn't come to the conclusion of. I'm a big believer in correlation doesn't mean causation, but this is quite a good way of looking at things. I remember how mad the 2017 craze of ICOs was, I mean we're still recovering here on the forum from the amount of spam that invited in, but also the effect it had on cryptocurrency adoption.

Although, I didn't make the connection of the recent NFT, and other shit coins that have been peddled recently. So, while on one hand it doesn't look like the market is following the exact same pattern that some people claim it to be, it does have some interesting deja vu with the ICO, and NFT craze.