60% on some polls thinking the bull run is over is interesting. There are certainly a lot of things at play for sure and I'm trying to quantify all of it. For one a lot of people have TikTok brain so they are onto one thing and then onto the next thing. Also large percentage pullbacks are mentally devastating dollar value wise on BTC. ETH heads are on borderline suicide watch because the price hasn't went crazy there but personally I don't think it will because so many people have moved to other chains because the gas prices were out of control.
Also sports betting in the United States has become a huge thing so I have noticed a bunch of guys getting blown up doing that instead of crypto this cycle.
You are viewing a single comment's thread from:
Yea, TikTok brain. I saw a study that showed since 2020(covid), the number of investors aged between 20-30 years has spiked cause of apps like Robinhood, 212 trading and eToro.
ETH has been a disappointment so far and I think it is lucky to see land between $5-6k. ETH could turn into the MySpace of gas tokens if they can not sort the fee out soon.
I've seen posts about sports betting, mainly ones where people lose all their crypto or stock portfolio and then start betting to try and make back losses quickly. I guess its all gambling, crypto, stocks, sports.
Seems like anyone who built on Ethereum for the most part has had to launch their own chain or I have seen ones launch side chains on something like Aribitrum.
The guys that I have talked to on the sports betting front have typically lost big. Even if they got up a bit they gave it all back when things didn't go their way.