Bitcoin hit new highs multiple times in 2025, but when compared over a longer period of 10 years, an embarrassing fact emerges: this year, BTC underperformed gold, US stocks, and even many traditional assets.
Prices are hitting new highs, but the overall experience is getting worse – this is probably one of the most genuine sentiments in the cryptocurrency world this year.
When BTC is no longer the default "best solution of the year," crypto is transforming from a high-growth asset into a risky asset that is repeatedly compared and rigorously priced.
Perhaps this is the real problem the crypto industry will face in 2025:
Are we enduring the growing pains, or are we bidding farewell to the era where "participation always brings rewards"?

