I will never get tired of saying this: fundamentals mean absolutely nothing in crypto when it comes to a token's price! Take Iron Fish, for example. It's a decentralized, Proof-of-Work (PoW)-based, censorship-resistant, publicly accessible blockchain project. Sounds impressive, right? Sounds like something important. It raised more than $32 million across investment rounds in 2021! Most likely, early investors received token allocations. And then? Over the course of five years, the token got absolutely crushed, falling from $24 to $0.006. Eventually, the team announced that it was shutting down support for the blockchain. On top of that, vulnerabilities were discovered that had apparently been there since 2019! There is something fascinating about this whole story. Yet some idiots will passionately argue that their project is something truly unique, that I'm just a chart guy who doesn't understand what I'm talking about or appreciate the importance of their supposedly revolutionary technology. Whether it's $ICP, NEAR, ADA, DOT, HBAR, or something else — it doesn't matter. Every single project is just a startup! We have no real idea what's going on behind the scenes: internal problems, technical issues, investors, insiders, vulnerabilities. We only see what project teams choose to show us. And people fiercely defend the technical and fundamental side of these projects for one simple reason: they're emotionally and financially trapped. Take ICP, for example. Some investors bought the token at $500–$200 back in 2021. Then, for five years, they kept throwing USDT into DCA, eventually bringing their average entry down to, let's say, $100. At that point, they've become hostages to their own investment. All they can do is aggressively defend the project and hope that one day they'll finally break even. That's the real essence of the crypto community! People in this industry — both project teams and die-hard supporters who get stuck holding these tokens — are often nothing but hypocrites. And they simply can't stand hearing opinions that go against the narrative.
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