A whiff of 2017 is in the air as TikTok investors and pump-and-dump private groups increase.
This episode is sponsored by Nexo.io.
The years 2017 and 2018 were some of the frothiest, wildest times in crypto market history. Their fallout also dragged the industry down for years, leaving an unmistakable stench of scam for many.
Thus far in this market cycle, much of those excesses have been avoided. Attention and energy has largely been focused on the rise of institutional bitcoin players, or other areas like decentralized finance (DeFi) and non-fungible tokens (NFT) that, while some of the prices might be shocking, at least are full of good faith actors.
On today’s “The Breakdown,” NLW looks at some of the more concerning recent trends that have the stench of 2017 all over them. Can we avoid another cycle where “alt season” games drag down everything else?
Part of the answer to that may lie in how bitcoin’s new institutional buyers react to the froth.
See also: The Bitcoin Haters’ Ball
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