Why has the recent rise in gold caused panic in the cryptocurrency market Because of the new narrative of gold: digital gold is not as good as real gold, and knockoffs are knockoffs Sure enough, BTC has become sluggish like a knockoff From a narrative perspective, BTC has also undergone a real adjustment Now Wall Street is the largest neighborhood in BTC So whether it's BTC's anarchism or resistance narrative, they have all gone bankrupt Liberalism has also gone bankrupt. If FBL wants to catch you, they can catch you. Freedom is a hammer Looking at it from a narrative perspective, explaining why it fell doesn't mean BTC won't work It's not that BTC has no future It means that BTC is in a stage of narrative breakdown New narratives may emerge in the future, and old narratives may be repaired P.S. Reading Notes on Narrative Economics