The above chart shows the popularity indicator of altcoins, which has been oscillating in an extremely cold position for nearly 4 months. Everyone has noticed that it has become increasingly difficult to operate altcoins; why is that?
I believe there are four reasons:
1. Early funding was all in BTC, and only after BTC reached a high would altcoins move, leaving a very short time window for altcoins.
2. When Bitcoin adjusts, if there are no special hotspots in the altcoins, it is difficult not to decline.
3. With the unlimited supply of meme coins, the long tail has become longer, and the hotspots of altcoins have become more dispersed, leading to a diversion of funds.
4. The rise of various decentralized trading platforms (dex) has little impact on BTC, but for altcoins, it has diverted a considerable amount of funds.
