Let me explain why I am still very pessimistic about this market.

First of all, the rise and fall of a coin is controlled by the manipulators, and it is impossible for retail investors to control the price. From ACT and SATS to today's OM crash, it only indicates one thing: the manipulators of altcoins are fleeing, and the market is gradually losing liquidity.

Such crashes generally do not yield much profit. In the current market, this kind of dumping makes it impossible to offload. Having been in the crypto circle for a while, I understand some insider information; generally, this kind of decline at high levels basically indicates that the manipulators have sold off their chips, and ultimately, they abandon the market, or the project has an imbalance between income and expenditure, maintaining a high price becomes a loss for the project team, so they take advantage of the remaining profits to dump and flee.

ACT's market price dump of 500,000 USDT caused a project worth over 100 million to drop by 50%, indicating that the value of altcoins is now illusory. Those who want to buy are trapped in the vehicle, while those who do not want to buy are indifferent to the drop.

Everyone should temporarily refrain from buying altcoins; ultimately, altcoins will all go to zero. The new entrants are not enough compared to the newly issued coins, and more and more altcoin manipulators will choose to dump and flee. Moreover, when they drop, they will follow a Christmas tree pattern, never to rise again.