As more and more people and institutions join the cryptocurrency space, the market is becoming increasingly complex. The likelihood of a broad market rally, like in the previous three bull markets, is diminishing. In the process of steady industry development, many sectors will be replaced by higher-quality applications, and those applications that are replaced will gradually disappear. The rise of coins that one did not seize is not called a bull market; only when the coins in one's possession rise do they believe there is a bull market. This is human nature, but it is not objective.

Some say that altcoins have no bull market, as many coins have already peaked; others say that altcoins do have a bull market, since many coins have yet to rise. However, I firmly believe that the real altcoin season has yet to explode, but it will soon, and it won't take much longer. We will see it when Ethereum breaks through 4100.