《24 Years Ago Altcoin Season Characteristics Review and Outlook》

Reviewing the altcoin season from 24 years ago, there are significant characteristics:

Firstly, the correlation between BTC and ETH has weakened. In the past altcoin seasons, when BTC rose, ETH would follow suit, and many altcoins would surge alongside, with strong coins often rising tenfold before ETH. Nowadays, when BTC rises, ETH often remains indifferent, and the correlation is not as it used to be.

Secondly, sector rotation is no longer present. In the bull market of 2021, sectors rose in succession, with public chains, DAOs, NFTs, and more dazzling the eyes. In 2023, L2 and AI also had their moments, but now the sector effect has diminished, with only a few conceptual coins occasionally performing, making it hard to replicate the past glory.

Thirdly, the rising pattern of altcoins. There used to be small incremental rises, but chasing them would risk profit-taking due to potential corrections; sudden spikes and drops occur, with rapid increases followed by flash crashes of 30%-50% before a quick recovery, affecting leveraged players; a zigzag market, alternating rises and falls, tests patience.

Can the altcoin season today reproduce the old characteristics? Which pattern is more favored?

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