Today is International Student Day! Well, we are all perpetual students here. Because we're smarter than others. We love to learn new things, and embrace new knowledge. So…
Now, let's take a walk through what narratives are and how they live in the crypto world.
A narrative is a branch of the market. For example! There memecoin narrative, socialfi narrative, gamefi narrative and so on. It’s a ground of projects base on one idea, roughly speaking.
What should you know about narratives?
I. If you entered a narrative early, don't think it died at its first fall. If you enter early, a narrative can bounce up and down.
Example: Those who sold Bitcoin at $100 thought the Bitcoin narrative was dead. But…
II. But! Don't stay in a narrative for too long. The Bitcoin narrative is unlikely to repeat itself, allowing a coin to garner as much hype and attention. So remember:
- Most of the time, a narrative can't be a leader for more than one month
- Narratives with the best performance become the worst after the peak. They pump quickly and deflate within 2-3 months
III. Complex narratives don't become mainstream. The SocialFi narrative is easy to understand, the security narrative is not.
IV. The most hyped things in narratives live long. Examples: PEPE from the memecoin narrative, Unibot from the Telegram bot narrative, and of course, friend.tech from the social-fi narrative. Don't think you're too late - you can still consider the top projects even after the narrative's rollback.
V. You can't fall in love with a narrative. For example, we have GameFi, the narrative of crypto games. Yes, it will blow the market one day 100%, but definitely not in 2023.
If you want to earn money, jump into different narratives, but don't spread yourself. It's better to dive into one narrative, work on it, and then find the next one.