I have recently slowly come to understand the fundamental reason for the disappearance of the altcoin season. It's like doing business where the winner takes all. In the mobile phone industry and the electric vehicle industry, there were initially hundreds of companies competing, but in the end, very few survived. Cryptocurrency also belongs to a new industry. After the dividend period of a new industry passes, only a very small number can survive, while others will be eliminated by the market. How many small exchanges were there before? How many types of counterfeit phones were there before? How many electric vehicle brands were there before? How many are still surviving now? The development of altcoins follows the same logic. The essence of currency is value storage. $BTC has already fulfilled the demand. This is the game rule of the market. There will no longer be an altcoin season in the future, as the crypto market matures. There may not even be new altcoins, because the market no longer pays for them. First of all, the altcoin market is a stagnant market; the cake is only so big, and people from outside continue to feast on it, carving out the cake without returning to build. The market keeps shrinking. Secondly, Bitcoin and altcoins are not in the same market; Bitcoin has outside capital support, and the consensus keeps returning. When it drops, there is capital buying in. The underlying flow is from wallets that need Bitcoin for liquidity to wallets that do not need Bitcoin for liquidity.
——Transfer
