Not my words, but it's an interesting observation:
"In the 2017–18 cycle, new money entered after reading lengthy white papers or watching detailed analyses of those papers.
They gained substantial context before making investment decisions.
In the 2020–21 cycle, new money entered after watching 10–15-minute long shill videos
They had relatively much less context than the previous cycle but still received some information before investing.
In the current cycle, new money is entering through two mainstream channels — TikTok and Instagram, which cater to people with the shortest attention spans and the highest levels of instant gratification in the world.
They are spending less than a minute deciding on their next investment.
Context has officially died.
Greed is reaching peak levels.
The majority of new money will end up losing capital as a result, and the sad part is that they will label crypto a scam without even taking the time to understand what it was all about."
https://x.com/hmalviya9/status/1871860176812224604