There is no real retail demand for crypto. Happens every bullrun. Retail comes in, gets a heady rush as their $5,000 becomes $20,000 (on paper) practically over

There is no real retail demand for crypto. Happens every bullrun. Retail comes in, gets a heady rush as their $5,000 becomes $20,000 (on paper) practically overnight. So they fomo in more and keep holding through the top before cashing out for less than their initial. 90% swear off crypto and never come back. You can't have retail demand for something that's only meant to go up and do nothing else. There are no "normal" users buying NFTs because they love the art, or buying ETH because they want to use it to get overcollateralized loans on AAVE (when they can get undercollateralized loans for cheaper). I can't understand how VCs wouldn't get something every crypto degen instinctively knows after a single bullrun.