Sharing this, although to clarify, I'm not the author.

"Here are some of the things you don't want to hear ????

1. There will be no alt season.

This doesn't feel like a hot take to me, but I'm sure this will rub people the wrong way. It's also a fairly obvious conclusion because if you look at any other alt season, the circumstances are no longer the same.

Back when we had those incredible rips where every token went up, people were actually interested in crypto, shocking I know.

But crypto was this underground thing that normies thought they could get rich on. Don't underestimate how powerful of a feeling that is for regular people! Many work a dead-end 9-to-5, and crypto was their perceived escape.

Unfortunately for them and us, that is no longer the case. When memecoins gained prominence, normies tried to gamble their way to riches... and you can guess how that turned out for most.

And the majority of them never even touched the best parts of our space! They didn't use blue-chip DeFi or own Bitcoin, and probably very little of them actually owned ETH.

I'd say they didn't touch DeFi in general, but I remember many a TikTok around $TIME and Wonderland. If you know, you know.

So knowing that normies got burned on crypto, why would they want to come back? A lot of my friends who entered crypto because of me left (pain), and that was because they couldn't stomach the volatility. It takes a certain amount of mental illness to go through the peaks and valleys that crypto people deal with.

Another big difference is that they no longer have disposable income. When the govt was dropping stimmies left and right, people were like, fuck it, let's see what we can turn this into.

Plus, this was around the same time as the Gamestop fuckery where everyone was buying penny stocks and trying to be the next RoaringKitty.

Crypto was just the next logical destination for that ball of hot, flaming money.

Do we see any of that happening right now? Why would retail come back to crypto, which previously bent them over like a gang member in prison, when they could just speculate on stocks?

I know we're all tired of hearing this argument, but when you look at AI, Drones, Rare Materials/Metals, and Robotics, normies can find multiples in a way safer environment.

I don't think it is a coincidence that we're underperforming stocks so hard, or that BTC is underperforming metals so hard.

Trust in crypto assets to outperform is at incredibly low levels, even among true believers.

And I think there's a reason for that as well."

More at:

https://x.com/schizoxbt/status/2014382116759310370