This bull market has really opened my eyes. I used to think that altcoins would rise quickly in a bull market, but that's not the case at all now. Bitcoin is soaring, while altcoins seem to be playing dead; when Bitcoin slightly retraces by a thousand points, yesterday APT and other coins dropped back to early this month level in just an hour, and a 1% retracement feels like poking a hornet's nest, causing a dramatic drop. The public chains are crashing, and coins can't even be redeemed; it's truly a sight for sore eyes.
In the end, the problems with altcoins are just too many. The total amount of capital hasn’t really changed, but the number of coins is increasing, with new garbage AI altcoins appearing every day. The essence is just to cut and run after a wave, with limited capital being spread too thin, how can they possibly rise? Just like ACT, pnut, neiro, these are typical examples of cutting and running, with no long-term plans in sight.
Many people buy altcoins simply because they feel that the bull market is here and they can quickly double their investments. Some see altcoins with a market cap of 2 billion to 5 billion, thinking they have stability and want to invest long-term for a double, but in the end? Long-term turns into being trapped, with prices nearing their ankles. The so-called 'stability' is a joke. These coins can't rise much; they are less stable than Bitcoin and Ethereum, and have less short-term profit potential than meme coins. They just wait to cut people, so it’s better to invest in meme coins, as the outcome is still zero, but meme coins at least rise quickly, which is much better than the slow decline of altcoins.
If we compare BTC to digital gold in the blockchain, and Ethereum to the blockchain trading system, then other altcoins can at most be considered apps. Yet everyone thinks they are investing in 'Alipay' or 'WeChat', while in reality, they are investing in Ponzi schemes like 'e-rent treasure', where the funding chain will eventually break and go to zero. Now it seems that there are only about a dozen supported altcoins, and rather than wasting time with a pile of garbage, it's better to hold onto those dozen or so that are somewhat reliable for the long term. This bull market has already shown that the number of coins is increasing, the cuts are becoming sharper, and liquidity is getting worse. Most altcoins probably no longer have long-term investment value, and the risks are much higher than Bitcoin, with no profits to be made, which is truly disappointing.