Have you noticed that this bull market is very strange, Bitcoin has broken its all-time high, BNB has also broken its all-time high, while ETH, the leader of the altcoins, is half dead.

In the previous bull markets, Bitcoin and Ethereum basically rose and fell together. Within a month of Bitcoin reaching a new high, ETH would inevitably reach a new high.

For example, on December 16, 2017, Bitcoin reached a new high of $19,665, and ETH reached a new high of $1,448 on January 13, 2018. It took about a month.

Let’s first look at the bull market in 2017. The main driving force was ICO, and the biggest beneficiaries were Ethereum and various altcoins under various banners.

For example, China's Ethereum, NEO, fell a lot after its ICO, and many people couldn't bear to sell it at a loss. However, during the altcoin craze in 2017, its price increased by thousands of times compared to the initial ICO, and its market value was close to that of Ethereum, making it unrivaled for a time.

It is precisely because of this expectation that everyone has faith in altcoins, and no matter how much they fall, they will rise again.

With the release of Document 94, ICO withdrew from the stage of history. A new round of bull market started unknowingly in 2020, and the driving force was replaced by DeFi.

Uncle$YFI made a lot of people rich overnight, including Sushi SUSHI, which exploded after being taken over by SBF. Sun Ge's TRX also took the opportunity to launch many imitations, such as salmon, pearls, and a lot of messy DeFi mining projects. Later, without exception, all of them returned to zero, and Sun Ge deserved the title.

Looking at the bull market in 2020, you will see that people are no longer speculating on old altcoins. Litecoin, known as "Bitcoin's gold and Litecoin's silver", has its best price in this bull market barely on par with the bull market in 2017. XRP, which rose from US$0.15 to US$3.4 in 2017, only rose to US$1.8 in the 2020 bull market before it stalled.

The altcoins that once occupied the top 100 were completely eliminated in this bull market, leaving only LTC, XRP, ADA, XMR, XLM, FTM, and NEO lingering.

In 2024, Bitcoin is the only company in this bull market. On March 14, Bitcoin reached a new high of $73,000, while ETH only rebounded to $4,000 during the same period, and it came to an abrupt end before reaching the high of $4,800 in the previous bull market.

It has been three months since Bitcoin reached its all-time high, and it remains to be seen whether Ethereum can lead altcoins to break through.

In the past bull market, altcoins basically advanced two steps and retreated one step. Every time they plummeted, they were followed by a larger rise.

This time is different. Bitcoin hit a new high, while the copycats are at the bottom. Bitcoin fluctuated, while the copycats fell. As a result, Bitcoin is still at 66k, while the copycats keep falling below the historical lows...
$BTC $ETH