Connected with some friends recently who used to be in Crypto but left the scene.
Most got cooked from Luna / FTX crashing. No disposable income to invest due to increased cost of living. Finally, they rather invest in BTC than altcoins because it’s safer.
A great protocol doesn't always equal a great investment. Why? Terrible tokenomics, no utility for the token, or they don't know how to market themselves.
Cycles feel shorter because it’s still the same people shuffling money around. We get excited over any new narratives but everyone’s racing to dump first.