DeFiance Capital CEO: Crypto market or entering maturity, most counterfeit products or no investment value

On June 21, Arthur Cheong, founder and CEO of DeFiance Capital, said on his social platform, "It is entirely possible that the crypto market is maturing, and we will not see complex wild fluctuations that fall by 70-80% every two years, but rather complex long-term growth like the S & P 500 Index experienced after the 2008 global financial crisis.
With the exception of a crash triggered by the COVID-19 pandemic in 2020, the U.S. stock market is either flat or gradually rising, with each bear market prediction proven wrong, but returns are increasingly concentrated in large-cap and ultra-large-cap stocks, while value and small-cap stocks have long been out of favor. If a similar situation arises, most counterfeit products are uninvestable, but some counterfeit products will deliver amazing returns, and hopefully every few years we will see Nvidia-like results, while most counterfeit products may disappoint. "