Merry Christmas to everyone! On behalf of the entire Gate team, I extend our most sincere holiday wishes to you.
Nothere
Liquidity is incentive driven.. which means it moves reactively
"Where can I get the most upside for the least risk?"
At different stages of a cycle, that answer changes..
🟡 Early cycle = Safety
⚪️ Mid cycle = Efficiency
🟢 Late cycle = Speculation
Once returns compress at the top, which right now is Gold and Silver.. capital must move lower to maintain return potential
Its not like investors suddenly become dumb and reckless.. but because the risk stays the same while the upside begins to shrink
This forces capital to look elsewhere, which naturally moves to smaller market cap assets..
Wher
"Where can I get the most upside for the least risk?"
At different stages of a cycle, that answer changes..
🟡 Early cycle = Safety
⚪️ Mid cycle = Efficiency
🟢 Late cycle = Speculation
Once returns compress at the top, which right now is Gold and Silver.. capital must move lower to maintain return potential
Its not like investors suddenly become dumb and reckless.. but because the risk stays the same while the upside begins to shrink
This forces capital to look elsewhere, which naturally moves to smaller market cap assets..
Wher

