The pseudonymous crypto trader Altcoin Pscyho says the decentralized finance (DeFi) market is set to experience a bull phase that will make the previous initial coin offering (ICO) bubble look like “child’s play.”
In a series of tweets made on January 16, the popular trader explained the DeFi market is still relatively underfunded, with the majority of retail investors unaware of the industry. He compared buying into DeFi today to investing in ETH in 2016.
Altcoin Psycho said the coming DeFi bubble would make 2017’s ICO boom look like “child’s play.” He also predicted last week’s correction would lead to the start of an altcoin season, which would benefit DeFi tokens.
Despite being bullish on the market for DeFi, the anonymous trader also pointed to the relative strength of bitcoin. In a tweet published at the end of last month, Altcoin Psycho said there would be narratives regarding the next “ethereum killer,” with few direct competitors for bitcoin.
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