Legendary trader GCR: The current market structure resembles the end of summer 2020; we are still in a bull market.
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Legendary trader GCR: The current market structure resembles the end of summer 2020; we are still in a bull market.
Well-known trader GCR replied on X to a tweet saying "The worst scammers are busy on the timeline, and GCR is betting against them, it's 2022 again," stating that the 2022 bet was made in the middle of a bear market; the current structure resembles more the period after the DeFi Summer crash in late summer 2020, or even the shadow of summer 2021, but one should not over-rely on pattern repetition; each cycle will exhibit different dynamics; we are still in a bull market.
Navigating Web3 tides with focused insightsTechFlow reported on June 19 that prominent trader GCR replied to a tweet stating, "The biggest scammers are active on the timeline, and GCR is betting against them—feels like 2022 again." GCR commented that the 2022 bet occurred in the middle of a bear market; the current structure resembles more the period after the DeFi Summer crash in late summer 2020—or even echoes of summer 2021—but cautioned against over-relying on pattern repetition. Each cycle will unfold differently, and we are still in a bull market.
