I’m going to miss the bear market.

Not saying we are totally out of it yet, but I’m going to miss the quiet building of the bear market.

Most of the toxic noise has left the space at least from the frenzied pitch it was at the height of the last bull cycle. I’m finding I deeply enjoy the atmosphere in this space during the winters. No hype, just building for the most part.

Weak projects that never had any business even existing get rekted. Memecoins are shouted down by the majority. I’m just going to miss this season of fundamentals mattering.

In time the bull market will reemerge. Fundamentals will get thrown out the window in exchange for rampant speculation and another catastrophic bubble will form in the industry.

The latest versions of Do Kwon and Terra Luna will emerge with faulty structures propped up by hype only to collapse when the next winter comes to stress test them.

And we will do it all over again. The whole show will get repeated all over again. I am hopeful for one day a “super-cycle” to emerge and we break the mold, but honestly right now I think we get two more cycles before getting there.

Hopefully I’m wrong, but I’ve learned to not underestimate human greed that forms bubbles.