To conclude, referring to past bear market cycles, the bottom for Bitcoin may be around $42,000.
This is what the famous trader and chart analyst Peter Brandt, who successfully predicted the 2018 Bitcoin crash, said today.
Where does everyone think the bottom is?
Recently, many people are focusing on the floating losses of Tom Lee and Saylor.
But what concerns me more is not how much they have lost, but rather: why are they willing to take floating losses at this position?
The answer is actually quite clear: they are betting not on short-term prices, but on a certain direction:
Cryptocurrency assets are transitioning from 'speculative products' to 'global settlement infrastructure.'
Once entering this stage, what is truly valuable is no longer 'whose narrative is the loudest'.
But who can bear the true payment and settlement needs.
This is also why Plasma has recently seen a noticeable increase in discussion within the community.
On one hand, it directly 'lowers the dimension' of multi-chain and multi-asset liquidity issues by connecting to NEAR Intents;
On the other hand, it has already started running payments in the real world:
E-commerce settlement, physical consumption, wages, and daily transfers, rather than liquidity that only exists in K-lines.
More crucially, @Plasma Plasma's 0 Gas is not a 'free lunch'.
Gas has only shifted from the user side to the project side and sponsors of payment scenarios.
In order to obtain this payment capability, institutions must hold and stake XPL for a long time.
This makes the demand logic of XPL fundamentally different from 'retail investor speculative tokens'.
It is more like a running capital of a payment system.
So I would say that the current market is actually eliminating the noise.
When leverage is cleared and emotions are flattened,
Those who can truly survive are often those projects that do not rely on shouting orders but on 'making money move'.
#Plasma is not necessarily the hottest one.
But what it touches upon is a necessity that cannot be avoided in any cycle: payment efficiency.
Do you all think Plasma can emerge after the bear market?
