This sort of mirrors a curiosity I have. I'm not sure whether a crypto market is sustainable long term - at least long enough to analyze global patterns.

On the plus side, I'm starting to look at coins and coin value as public sentiment toward ideas that are rooted in assigning, storing and trading value, with strong uses in IP. Some gems in the shitcoin market, but the more we move forward, we'll see less use cases with value, as competing ideas fall off and less use cases in general. I also believe that a crypto market could flourish just like a stock market, but the hype starts long before an idea makes it to market. Like a different style of crowd source.

On the negative side, the coins themselves are generated not out of productivity, but electrical waste. Hopefully this changes and mining and consensus is distributed across all computing devices, especially with some of the use cases with advertising, image, music and sound, gaming, etc. But for now, the backing, while decentralized, most coins have no value. Not going to go into liquidity here as Trinity exemplified that point well already.

I would like to see a long term crypto market, with different tiers of currencies - long term and short lived. The pump and dump will always remain as a normal cycle of some coins, but should decrease as the entire market matures. The crypto itself may not have a traditional backing, but people throwing money at for various reasons does give it value.

I trade currencies with technical patterns. In the crypto market, technical patterns are partially BS, as the entire market can almost be seen as rising and falling together being connected to bitcoin. On the other hand, technical patterns are self fulfilling to some degree, so when people see a head and shoulders or an inside bar, they react to them per definition and influence the trading pairs. Not sure what percentage of crypto traders use technicals though; there are a lot of newbies out there.