In a recent post on X, user ​辞尘鸽鸽​ (@cichen1314) shared insights on the current state of the cryptocurrency market, highlighting a troubling shift from long-term holding strategies, often referred to as "diamond hands," to a more speculative, player-versus-player (PVP) trading mentality. This transition, according to the user, is steering the market in the wrong direction, creating a vicious cycle where everyone is chasing quick gains rather than building trust or faith in the underlying assets.

The post, which was made at 14:25 UTC on February 15, 2025, explains that when the entire market starts to favor PVP and adheres to the 'buy new, not old' strategy, it essentially becomes a speculative playground. Here, traders are more focused on buying before others and selling before they do, rather than believing in the long-term value of cryptocurrencies. This behavior, as @cichen1314 points out, shortens the lifespan of market trends and accelerates the cycle of buying and selling, leading to what they describe as a "malign acceleration loop."

This shift has significant implications. Without a shared belief or "consensus" in the value of cryptocurrencies, the market loses its foundation, becoming more like a casino where the goal is to outsmart other players rather than invest in genuine technological advancements. The user expresses concern that this trend could lead to the death of the crypto market, as new projects, even those beneficial to the ecosystem, might get buried under this speculative frenzy due to lack of long-term commitment from investors.

@Zhou66Vic replied to the post, agreeing that without consensus, the crypto space turns into a pure gambling arena. @cichen1314 responded, emphasizing the dire path the market is heading without a collective vision or hope for the future.

Another user, @xiaobeisky666, suggested forwarding the post to CZ, the head of Binance, urging reflection on how leaders in the crypto space contribute to this chaos. @cichen1314 expressed disappointment in the inability of market leaders to guide the community properly, highlighting a disconnect between the market's direction and the leadership's actions.

@0xAgata added that market correction takes time, and expressed disdain for external entities issuing tokens just to exploit the market, suggesting a cleansing of such practices is necessary. @cichen1314 concurred, noting the market is at a crossroads where the community's choices will define the future.

@PeterPancakeYen shared insights on how the previous wave of diamond hands were decimated, leading to a scenario where the only way to avoid losses is through aggressive trading, which unfortunately sidelines quality projects. @cichen1314 suggested that one solution could be rebuilding a community consensus around meme culture or leveraging AI agents for a market breakout, though they acknowledge the difficulty in achieving this shift.

The conversation ended with @shanmao02 warning that if this cycle continues, it might lead to a complete market wipeout, and @yq_acc stressed the need to protect or at least ensure the survival of diamond hands for a sustainable and attractive industry.

This discussion paints a picture of a crypto market at a pivotal moment, where the community must decide between continuing down a path of short-term gains or returning to a foundation of belief and long-term investment in blockchain technology's potential.

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