It’s often said that the bigger they are, the harder they fall. That saying probably describes the situation in the crypto market more than anything.
When the last bull run started in early 2020, the market was the best place to be. The price of Bitcoin rose exponentially, and like a rising tide, it took almost every project along with it. People in the community were innovating on a day-to-day basis, and venture capitalists were blowing cash like they had a limitless pit of it.
NFTs and play-2-earn projects got simply insane valuations. Everyone wanted to have a piece of the crypto pie, and in a way, a lot of people did. That period probably made hundreds of millionaires out of ordinary people.
But even the highest of highs don’t last forever, and the dizzying rise of crypto couldn’t be maintained. Something had to give.
The Birth of the Bear
The unprecedented investment of cash into crypto ensured that the ecosystem had become joined at the hip with the
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