The 2017 run ended and resulted in a bear market largely due to the dilution of the market with more and more trash projects than the incoming capital could support.

1/8

DeFi summer was an example of a brief market cycle around new, QUALITY, projects; hence the pullback was short and swift before the macro bullish trend went on to continue.

I sense that the market is now closer to the 2017 environment than the defi summer environment. I know, not really a novel thought. And don't get me wrong, I'm a bull until the market tells me to be otherwise.

The quality/usefulness of the defi projects of 2020 far and away exceed that of the shitcoins trends that came before it, so there's definitely something to be said for that.

But markets will be markets and they become over-optimistic and overshoot in times of great innovation and promises of changing the world.

It's easier to find something decent to invest in (other than the one true king, #BTC , of course) than it used to be, but if you're gonna do it, just remember to be very picky and very skeptical. Respect your capital, you earned it.

If you're gonna ape, ape responsibly. If you're gonna hodl, make sure you can explain to yourself why you believe that other people will want to continue hodling that shitcoins with you, even when the "only up" regime is over.

Don't marry those bags, boys; don't marry those bags.

And always remember: