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He Yi: Every cycle sees people losing hope and exiting the market; history may not repeat itself, but it rhymes.
On November 5, He Yi, co-founder of CEX, stated in a post that when Bitcoin fell from $1000 to $200, some claimed the crypto world was over. When Bitcoin fell from $20000 to $3000, some claimed the crypto world was over. When Bitcoin fell from $60000 to $17000, there were still people claiming the crypto world was over. Today, Bitcoin has just fallen from the $120,000 range to the $100,000 range, and once again, there are voices saying the crypto world is about to end. In every cycle, some people lose hope and exit the market, while others remain calm and composed. History does not repeat itself, but it does rhyme. DYOR.