@Sakura please summarize this article, thanks uwu.
TLDR
The article discusses the current state of the crypto market, comparing the PVP (Player vs Player) and PVE (Player vs Environment) dynamics in the crypto space.
Key Points
Crypto has historically traded in 4-year boom and bust cycles.
The current bull run has seen Bitcoin move from $15K lows to recent highs over $70K.
However, many top altcoins are still at bear market lows, despite Bitcoin’s massive move.
In-depth Summary
The article starts by noting that crypto has historically traded in 4-year boom and bust cycles, with the last cycle occurring during the COVID-19 pandemic. The author highlights that there are numerous similarities between these cycles, including bull runs occurring post-Bitcoin halving, altcoins providing ridiculous returns before crashing 90%+, and diminishing overall returns cycle-to-cycle.
The author then discusses the current state of the market, noting that many agree we are now in the next bull run. Bitcoin has already moved from $15K lows to recent highs over $70K, and people are speculating on the potential “altcoin season”. However, the author points out that strangely, despite Bitcoin’s massive move, many of the biggest altcoins that sit in the top 200 by market cap haven’t yet made much of a dent and are still at bear market lows.
The author then draws a parallel between this dynamic and the concepts of PVP (Player vs Player) and PVE (Player vs Environment) in gaming. The author suggests that the current crypto market is more akin to a PVP environment, where the focus is on outperforming other players, rather than a PVE environment where the focus is on beating the market or the “environment”.
ELI5
The article is talking about how the crypto market has been going through ups and downs in cycles, and right now we’re in another big upswing. Bitcoin has gone up a lot, but a lot of other popular cryptocurrencies (called “altcoins”) haven’t really moved much yet. The author is saying this is like a “Player vs Player” (PVP) situation, where people are more focused on trying to beat each other rather than just trying to do well overall.
Writer’s Main Point
The main point the author is trying to make is that the current crypto market is more akin to a “Player vs Player” (PVP) environment, where the focus is on outperforming other players, rather than a “Player vs Environment” (PVE) environment where the focus is on beating the market or the “environment”. This dynamic is reflected in the fact that while Bitcoin has seen a massive rally, many top altcoins are still at bear market lows.