Suddenly I realized a problem: some tokens are strong because people hold them not to profit from the price fluctuations of the token, but to profit from the growth in the number of tokens!
When the price of SOL was strong, people were trading it to acquire more SOL; during this time, they didn't even care about the price fluctuations of SOL...
Similarly, during the last bull market when ETH was strong, people cared about how much ETH their NFTs were worth, rather than the price of ETH...
This can actually explain why those who became wealthy through altcoins are essentially still calculating the value of their wealth in terms of how much BTC it represents, and even all assets in the crypto space need to be measured by how many BTC they are worth.
Is this the reason why BTC remains so strong?
Conversely, when people start to worry about the price of SOL or ETH, it is actually because there are no good opportunities to earn more SOL or ETH; this lack of demand will cause the supply to be released...
This leads to a drop in coin prices and exacerbates this vicious cycle...
On this basis, when will BTC enter a bear market?
