The core reason why the cryptocurrency market has developed like this is that the time and amplitude of trend markets have greatly decreased or even disappeared. The core reason is that the cryptocurrency market has developed for more than ten years, forming a large amount of old money. Old money has banded together to form institutions, preventing newcomers from climbing up, leading to class solidification. There is too much old money in institutions, and old money only seeks appreciation; most of their strategies are machine quantitative. There is too much quantitative funding in the cryptocurrency market, much of which consists of various grid strategies: buy when it drops, sell when it rises, causing the market to remain in constant fluctuation. They have already made hundreds of millions, even billions; earning 50% in a year is still a lot of money, but our principal is only 10,000 or 100,000. We need dozens or hundreds of times the returns; we need to engage in subjective trading. But only trend markets can allow subjective traders to make big money. The cryptocurrency market has been dominated by quantitative funds, and there are no longer any trends. It is no longer a wild era, a cryptocurrency market where the underdogs become rich.