Current crypto market reminds me early 2020.

Not in charts, but in sentiment:

• Apathy and pessimism dominate

• Questioning crypto's real world utility beyond speculation

• Stuck innovation in product and tokenomics

• Hopes for "Institutions are coming"

I feel this not just on CT, but also in real life talking with old crypto OGs at Korean Blockchain Week.

Disillusioned, many early crypto adoptoors abandon crypto to what @travis_kling called the crypto's "Quiet Quitting."

But I'm not as pessimistic as Travis as quiet quitting is just part of the story.

While many crypto OGs quit or get disillusioned, there's a new group of (often younger) people who enter the market and bring fresh, new ideas to crypto.

For example, yesterday I met @CryptoShira who is in early 20s and is super optimistic about crypto, and Bitcoin ecosystem especially.

Or @FoxyPenguinApe from Pudgy Penguins. And many more young people I met at KBW!

In general, I noticed that the newer and younger generation is much more optimistic and bullish then the old crypto OGs who just need one more cycle to cash out and maybe leave crypto forever.

Yet these younger participants are less influential on X where sentiment is being driven by crypto OGs like Hsaka, Cobie etc.

The young and optimistic are still building their audience and will slowly replace the old dudes like me!

So, what's next?

Like in 2020, I believe we are primed for a catalyst to emerge that will invigorate the market and bring optimism and bullishness back.

When DeFi summer and the subsequent NFT and Metaverse boom started, we believed we had found our PMF.

We even managed to convince Facebook, leading to their rebrand as Meta.

Something will bring the optimism and bullishness in the market.

Perhaps the newer and younger generation of crypto builders and community will be the one to do so.

And not the old, pessimistic, and about-to-retire crypto OGs.

I just hope we won't have the 2020 Covid-like crash before we do so.

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