Pseudonymous crypto trader Altcoin Pscyho says the decentralized finance (DeFi) market will see a bull phase where the previous Initial Coin Offering (ICO) bubble will look like a no-brainer.

In a series of tweets on January 16, the popular trader said the DeFi market was still relatively underfunded, with the majority of retail investors unaware of the industry. He compared buying DeFi today to investing in ETH in 2016.

Many people don’t even know what defi stands for. Joining DeFi rn is like buying ETH in 2016

– Altcoin Psycho (@AltcoinPsycho) January 16, 2021

Altcoin Psycho said the upcoming DeFi bubble would make the 2017 ICO boom look like a no-brainer. He also predicted that last week’s correction would lead to the start of an altcoin season that DeFi tokens would benefit from.

The DeFi bubble makes the ICO bubble look like a no-brainer when things really get going

– Altcoin Psycho (@AltcoinPsycho) January 16, 2021

Although the anonymous trader in the market was optimistic about DeFi, he also pointed to Bitcoin’s relative strength. In a tweet posted late last month, Altcoin Psycho said there would be tales of the next “Ethereum killer,” with few direct competitors for Bitcoin.

In the next old season there will be many stories for a new “Ethereum killer”.

There will be 0 tales for a bitcoin killer.

I’m not a maximalist, but keep that in mind.

– Altcoin Psycho (@AltcoinPsycho) December 31, 2020

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