Now it's difficult to make money in the cryptocurrency world! Bitcoin and Ethereum have been rising quite happily; Bitcoin has multiplied several times from last year to now, and Ethereum is about to double as well. However, other altcoins (sh*tcoins) have directly dropped to only a fraction of their value, being halved again and again. This is still in the latter half of a bull market, yet the situation is far worse than before.
In the past during bull markets, everyone would chat daily about 'what's the next coin that can increase by 100 times.' Altcoins would rise by dozens or even hundreds of times, attracting a bunch of retail investors, and those who made money would turn around and buy Bitcoin and Ethereum, pushing their prices higher and forming a virtuous cycle. But now? Forget about 100x coins; an altcoin that can rise by 3 times is considered a stroke of luck.
Now it's entirely dependent on institutions 'blowing bubbles' to support Bitcoin and Ethereum, while the actual ecosystem and applications are relatively stagnant. Funds are only funneled into these two major coins, and no one cares about other altcoins or public chains. Retail investors see no opportunities to make money; who is willing to come in? Institutions are just playing their own game, and the market has turned into a strange scenario of 'institutions having fun while retail investors watch the show.'
When Bitcoin hit new highs and Ethereum surged to 4800, the market was as quiet as if no one was around. Why? Because there’s no wealth creation effect anymore! If the new market doesn’t even have opportunities to make money, who would be willing to take risks? Without new funds coming in, and institutions unable to incur losses, they can only hold on. Now, the circulating supply of Bitcoin is decreasing, and mining farms have little say; the market is dominated by institutions, becoming increasingly distorted.
If there is no 'altcoin season' (a collective explosion of small coins), how long can this prosperity, which relies on 'blowing bubbles,' last? To put it bluntly, without anything concrete to support it, it will ultimately be a house of cards.
Take advantage of the expectations of interest rate cuts in the speculation; the next wave will bottom out at an epic low, grab the trend Dan! Expecting 5-10 times!
