Its gonna be interesting to see BTC drop to $5K again and the defi projects fly up like how the YFI did.
There were several reasons I've read about what really is happening like the miner's exit to which they are selling it for a low price so new miners will not get ROI and eventually close down. The only reason some find it sensible is that what goes up must come down, I guess this is just investors taking profit and then reinvesting again after.
I don't expect Bitcoin price to drop because if this happens then the whole crypto market will surely be affected a lot and investor sentiment will change. Given the current situation I hope the uptrend will persist as this is for the best of the market. One more thing, when the market rises, the DeFi projects will attract more investors and this is a good opportunity for you to make more profits.There were several reasons I've read about what really is happening like the miner's exit to which they are selling it for a low price so new miners will not get ROI and eventually close down. The only reason some find it sensible is that what goes up must come down, I guess this is just investors taking profit and then reinvesting again after.
I would say Defi projects was make a lot of new investors loss their money and make the market bleeding again so soon as the hype of Defi will attract a lot of scammer to make a scam project that lead to new investors losing their money and what most surprises even Binance do list scam project in their exchange.
It's a good thing and you can see for yourself which one of them is going to be strong.
