2026-01-20 08:42:44

Regarding the bubble issue, there is an interesting classification method—dividing it into two dimensions: market bubbles and industry bubbles.

Take AI as an example. There is indeed a market bubble, with stock prices soaring, but from an industry perspective, application scenarios and technological breakthroughs are real and present, with enormous future potential. This is a typical situation of "market bubbles exist, but industry prospects are vast and promising."

In contrast, the electric vehicle sector is completely different. This track has both market bubbles (speculation) and industry bubbles—intense price competition has long been fierce, the ceiling is clear, and growth potential is limited. Entering a bottleneck period is inevitable.

Looking at the crypto asset market, it’s a different situation altogether. There is no obvious market bubble (prices are relatively rational), nor is there industry bubble support; large-scale application of the ecosystem is still in the exploration stage. The entire market feels somewhat stagnant, lacking that driving force.

This framework makes it very clear: different forms of bubbles lead to completely different outcomes.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

23 Likes

Reward
23
7
Repost
Share

Comment

0/400

LightningPacketLoss

· 01-23 02:24

Yes, this framework is indeed clear, but cryptocurrency is really a bit awkward right now. --- I acknowledge the AI bubble, but the industry foundation is there; electric vehicles are just a pure competition. --- Wait, isn't there no market bubble in crypto? Haven't the coin prices been rising recently? Haha --- The core still depends on whether the industry can break out; otherwise, the bubble will burst sooner or later. --- I think the crypto sector is still in the brewing stage, don't be so pessimistic. --- Industry bubbles are more deadly than market bubbles, and the casualties are more severe. --- So, crypto needs to find killer applications quickly, or it will truly stagnate. --- This division is interesting, but shouldn't the stock prices of AI also cool down now? --- The ceiling for electric vehicles is indeed obvious, and the competitive landscape has already solidified. --- There are too many unfinished projects in the crypto ecosystem, no wonder the market lacks confidence.

View OriginalReply0

ImaginaryWhale

· 01-21 19:39

This framework has some substance, much more reliable than those vague analyses that say "it's all a bubble." The current situation in crypto is also quite sobering... the market is indeed a bit sluggish. AI stock prices are outrageous, but the industry implementation is truly no joke. Electric vehicles are now in full-blown competition, with a very clear ceiling. I feel that only by dividing into these dimensions can we see clearly who has a future and who is deadlocked.

View OriginalReply0

GateUser-e87b21ee

· 01-20 09:12

This framework is indeed interesting, but when it comes to crypto... is it really stagnating? I think the ecosystem just hasn't taken off yet, it's not lacking potential. It's true that AI stocks are soaring, but the projects that can truly be implemented are still few, most are just hype. The judgment that electric vehicles have reached a ceiling is a bit pessimistic; technological iteration isn't that slow. If crypto really had no driving force, we wouldn't still be discussing it today. The bubble classification method is good, but the key is how to survive in the waves, right?

View OriginalReply0

SlowLearnerWang

· 01-20 09:11

Ha, I have to admit, it's a bit late to understand this framework now. Wait, are crypto market prices relatively rational? I haven't quite kept up with that statement. The AI bubble is big, but at least the industry is still rushing forward, and electric vehicles are already starting to compete fiercely. Speaking of crypto, it's indeed awkward—it's neither hype nor adoption, just stuck in limbo. Separating market bubbles from industry bubbles, I finally got it clear this time. Before, I used to think of them as one.

View OriginalReply0

MetaMasked

· 01-20 09:01

Hmm, talking about crypto hits a bit close to home... There's really not much driving force. This framework is pretty solid, but it feels like crypto is just waiting for the right moment to restart. The bubble in AI is just a bubble; at least there's underlying technology support. What about us? Electric vehicles have reached their ceiling, but at least the products are in use. The stagnation in crypto is too strong. When will there be a breakthrough? Honestly, it's still a lack of application scenarios... Just hype concepts is pointless. I agree with this two-dimensional classification, but the current state of crypto is indeed awkward.

View OriginalReply0

CounterIndicator

· 01-20 08:58

This framework is indeed amazing. AI is a bubble, but the prospects are real. Electric vehicles with two layers of bubbles are definitely doomed. Ironically, the crypto space is the most embarrassing when there's no bubble at all. --- The crypto circle is stuck here, not having a bubble is actually the hardest to bear. --- Wait, rational crypto prices? Are you serious, bro? --- The comparison for electric vehicles is spot on. Since there are two layers of bubbles, isn't a crash just around the corner? --- The judgment on AI is interesting. The market may be crazy, but the industry is indeed moving forward. --- After exploring the crypto ecosystem for so long, if I were in your shoes, I would consider cutting losses. --- The key is that the type of bubble determines life or death. Once you understand this, everything becomes clear. --- The crypto space is the worst off without a bubble. At least a bubble indicates that people still believe. --- So, it's fine to keep hyping AI, electric vehicles are starting to run away, and crypto is stagnating? This logic makes sense. --- The worst case is having neither market bubbles nor industry prospects—that's truly death.

View OriginalReply0

RetroHodler91

· 01-20 08:57

This framework is indeed awesome, the crypto market part is really painful... It feels like it's describing our current awkward situation. --- I'm not too worried about the AI bubble; the technical foundation is there. Once we get through it, it'll be the next wave. --- I completely agree on the electric vehicle sector. The low-price war has already wiped out profits, and now it's just about who can survive. --- The most disgusting thing about crypto is that there's neither hype nor practical application. The sense of stagnation is really strong. --- So, not all bubbles lead to the stars and the sea; the key is whether the industry itself has something valuable. --- This guy's analysis is very thorough. Finally, someone has distinguished between market bubbles and industry bubbles. --- It feels like the crypto market is just missing a killer app. Being stuck here is really annoying. --- According to this logic, the crypto circle is now in the most awkward position... No hype and no applications. --- Although AI stocks are crazy, I believe in tangible implementations. The electric vehicle sector is really saturated.

View OriginalReply0