Progress in the cryptocurrency sector stops at BTC, and innovation stops at ETH (Ethereum initiated innovation on-chain, and stablecoins have conversion channels to U).
The later projects are all clones of BTC or ETH source code, and the purpose is to deceive you out of your U, BTC, or ETH. As an innovative cryptocurrency, ETH has lost market share to public chains like TRX and APT, which offer cheaper fees for transactions and conversions to U. Coupled with the switch to POS, which is an inflationary currency, ETH naturally lacks upward momentum.
Theoretically, BTC can keep rising forever because it is benchmarked against global fiat currencies, which are printed year after year and gradually inflate. How to determine when to buy? A large dip on the weekly chart can be used as a buy signal; breaking moving averages during a deep bear market can indicate a good time to buy heavily.
In other words, the market has been stagnating, with progress stopping at BTC and innovation halting at ETH. Price is the best measure; in a bull market, even low-quality coins can see price increases, while in a bear market, project promoters might still claim that their projects represent innovation or progress in the cryptocurrency sector. (For example, the recently popular PI coin, many people are still waiting for a reflection that they probably won't receive. The project promoters can actually control the reflection area, manage the reflection process, or even choose not to reflect, which goes against decentralization. This is irrelevant because the founder holds 20 billion PI coins, and with PI successfully listed, the creator has already achieved financial freedom.) I remember when EOS was touted as the Ethereum killer! Haha, now it’s rebranded as A; many altcoins have seen a 99.99% price drop from their peaks, unable to rise or get delisted, clearly indicating that the project promoters aim for fraud and cashing out. Even if prices are cheap, technical analysis has no meaning; the fraudulent nature of the project represents 99%. Market trends are varied, and the hype has been blown out of proportion, suggesting that any industry can go on-chain. Don’t let the project promoters’ hype and white papers brainwash you. The essence of blockchain is a ledger, but everyone recognizes only BTC. This consensus cannot be surpassed by clone coins like LTC and DASH, which have the same functionality. Additionally, ETH has conversion channels to U, and there are cheaper public chains for conversion to U, leading to a sharp decline in the exchange share of clone coin DASH. It is perfectly normal if prices do not rise in a bull market. Later, the creation of NFTs, foreign currencies, AI, etc., is all just packaging to find scapegoats; the way project promoters behave is very unappealing. The issuance of tokens is often in the billions, even 10 billion, 20 billion, or 100 billion, and they leave backdoors that you are unaware of, as there is no one to regulate and impose heavy penalties. The more tokens there are, the more successful the project promoters can cash out slowly after going public, becoming wealthy without needing to spend money to pump the price.
Innovation stops at ETH, progress stops at BTC, and the cryptocurrency sector has been regressing. Various flashy concepts packaged by project promoters are merely for profit.
Did I make myself clear?
