Yi Li Hua: Crypto Market Disappointing Over Past 4 Years, Retail, Mid-Tier Investors, and VCs Harvested

AirdropBlackHole · 2026-03-28T12:32:01+00:00

The essay discusses the ongoing bear market in the crypto sector, highlighting its disappointing performance over the past four years and the various factors contributing to investor losses. It emphasizes the need for disruptive innovation to revive the market.

AirdropBlackHole

2026-03-28 12:32:01

Abstract generation in progress

On March 27th, Yi Li Hua, founder of Liquid Capital (formerly LD Capital), posted that the crypto market is in a bear market, coupled with ongoing wars and a lack of significant rebounds. The crypto market has been disappointing over the past four years. The “1011” crash harvested the crypto middle class, the “altcoin death” harvested retail investors, and the “13 rule” harvested crypto VCs. Meanwhile, exchanges, market makers, and project teams have been in a constant state of ‘bleeding,’ with the only ‘blood transfusion’ coming from Wall Street’s spot ETFs and crypto treasury companies, as well as a small number of true believers. Disruptive innovation in the crypto space has been long overdue.

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