Bull market characteristics emerge, veteran investors miss out, newcomers show off their gains.

"Just woke up...opened my eyes and everything has gone up again. Atom is at 4000, Eths is almost 9000, Lightning Network TT is at 3100, BRC420 Blue Box is at 2700, and ORDI is at 50." After saying hello to the group with "GM", the members began to share and check the new prices of their positions.

These tickers, which were once despised by veteran investors, have left those who are accustomed to VC narratives and value layouts feeling regretful. It feels familiar, like the days in the zoo, where breaking free is truly liberating, but also truly painful.

Bitcoin sector still leads the way

Yesterday morning, Bitcoin returned above $40,000. The cryptocurrency industry has been waiting for this day for too long, 578 days to be exact.

Under the influence of multiple factors such as continuous inflow of institutional funds, the expectation of Bitcoin spot ETF, and Binance reaching a settlement with regulatory authorities, the price of Bitcoin is showing signs of breaking through 42,000. Throughout 2023, the price of Bitcoin has risen by 139.9%, which proves that a bull market is not a momentary event, but a state that we have long been in.

On the second day after Bitcoin surged above $40,000, the Bitcoin ecosystem was unstoppable and saw a comprehensive rise.

As the first BRC20 token of Ordinals, ORDI surged to a high of $54 this morning, with a 24-hour increase of 36.28%. ORDI, which was less than $30 over the weekend, has almost doubled in just two days.

In addition, BitStable, a cross-chain DeFi protocol based on Bitcoin, saw its governance token BSSB rise to $1.9444, with a 24-hour increase of 105.27%. MultiBit, an ERC20 and BRC20 cross-chain protocol, saw its token MUBI rise to $0.05466, with a 24-hour increase of 41.01%. The Stacks token STX, a Bitcoin Layer2 network, briefly broke through $1.20, with a 24-hour increase of 38.42%.

Obviously, after a brief cooling, the Bitcoin Ordinals inscription market has rebounded. Yesterday, the trading volume on mainstream platforms has risen to about $15.94 million, an increase of over 200% compared to the recent low of $4.94 million on November 26th.

The huge wealth effect has caused some old investors who missed out on the opportunity to express their envy with the words "getting rich overnight is a matter of timing and fate", and quickly ask: "Brother, where is the next ordi?"

Only the elderly have experienced the void, not the newcomers

"Can I still get on board now?" This is the slogan of every bull market.

This bull market is also only considered a good project in the hearts of old leeks if it involves TIA and SOL, with a strong team, good VC, Binance listing, and the expectation of hype in the field. All memes in the Bitcoin ecosystem are completely unexpected.

Since its birth in March, bias has been closely associated with the Bitcoin ecosystem, but it seems to have never given up convincing everyone: "If you have bias, let the Bitcoin ecosystem rise until you have no bias."

Today, a screenshot circulating in the Bitcoin ecosystem showed that some real people in the past were singing the death of Ordinals. Early participants in the Bitcoin ecosystem, @LeonidasNFT, said on their social media: "These people missed out on participating in an ecosystem that went from zero to 3 billion dollars in less than a year."

"Next-door college student, junior, 70 atom, 50 eths." This story has been circulating in the community in recent days. Based on current prices, the assets of this next-door college student have reached $700,000.

老人们只会说这个太高了，但新人会让你冲。

Perhaps this is the biggest difference between new and old investors in the cryptocurrency industry. Novice investors are often brave and curious about the market. However, experienced investors who have gone through the ups and downs of the market gradually develop respect and awe for it. They are more cautious, especially after experiencing the volatility of bear markets, and often quickly withdraw after making small profits.

Therefore, after the emergence of the new ecology, there are often only old leeks who have stepped on air, and no new leeks who have stepped on air. This is also why new leeks often have a novice protection period.

放下偏见，拥抱两万倍涨幅

Let go of prejudice and embrace a 20,000-fold increase

NextDAO Community is one of the earliest and hottest communities for discussing the Bitcoin ecosystem.

NextDAO community core contributor Shep talked about their experience of coincidentally discovering Ordinals back in February on the Sea Talk podcast.

"I don't remember how I first became interested, but when I saw Ordinals, I thought it was a new thing and decided to follow it and try it out. There's a saying in the cryptocurrency industry that goes 'trade the new, not the old', so as long as something new comes out, it's always worth paying attention to."

As a programmer, Shep agrees that technically speaking, BRC-20 has no technical content and can be said to be a very inefficient way of issuing coins, unlike Ethereum's smart contracts which are more elegant. At that time, many people in the community did not have high hopes for it because it was too primitive and felt like going backwards, like going back to the way of keeping accounts with paper money in the past.

"But for me, I think the imagination is very large. Someone has tried to issue coins on Bitcoin before, but this may be the largest-scale attempt that can really attract community consensus or attention. At that time, the entire Ordinals community was actually paying attention to this."

Everyone in various WeChat groups is discussing the BRC-20 token issuance. NextDAO community immediately took action upon seeing this and started to participate. "We were so tired from staying up until 1 or 2 in the morning, it was very exhausting. At that time, there was no proxy service available, so we had to manually participate one by one. I participated in more than 20 rounds and then went to sleep. There was a friend in our group who stayed up all night and participated in more than 60 rounds," said Shep.

Translate the content:

One ORDI (1 sheet including 1000 coins) costs between $2 and $3. Based on the current price of $50 per ORDI, the current price of one sheet is $50,000. If it has not been sold for 10 months, based on the current price, this is a 20,000-fold increase in investment.

Keep a calm and curious mind. When you look back on the day that changed your life, it's often a day that seemed ordinary to you.

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