Recently, several cryptocurrency traders and market analysts have issued warnings that an unprecedented 'altcoin liquidation feast' may be quietly approaching, undoubtedly adding a bit of chill to an already turbulent market.
When Benjamin Cowen, the founder of ITC Crypto, asserted in an article on November 4 that 'the grand conclusion of the altcoin liquidation has finally arrived', many investors were deeply touched. This is not only a prophecy from an industry leader but also an inevitable conclusion drawn from profound insights into the historical cycles of the market. Cowen further pointed out that this liquidation feast will conclude at the latest in the second week of December 2024 or January 2025, as if setting a cold countdown for this long winter.
Looking back, every rise and fall of the market has been accompanied by countless investors' laughter and tears. The bear market in 2019 saw a final frenzy in the altcoin market, followed by chaos. Now, a similar pattern seems to be repeating, making one lament the market's ruthlessness and the cruelty of cycles. The slow recovery of altcoins in 2020 and the explosive rise in 2021 felt like a carefully choreographed drama, and at this moment, perhaps it is the calm before the climax of the drama.
Analysts have pointed out that the comparison between altcoins and Bitcoin has shown a remarkable regularity in recent years. For three consecutive years, the exchange rate of altcoins against Bitcoin has continuously declined, a trend that undoubtedly deepens the market's concern about the impending liquidation. Especially during the altcoin seasons of 2017 and 2021, it seems to have become a curse that the market cannot shake off, and predictions from traders like 'ardizor' have further escalated this concern—they firmly believe that the altcoin season pattern will repeat every three years.
In this upcoming storm, not everyone has chosen silence or avoidance. Cryptocurrency investor 'Sensei' told his followers in an almost tragic tone: 'The largest altcoin trading season in history will begin in less than 10 days.' This statement not only acknowledges the laws of the market but also calls for the courage and determination of investors. At such an uncertain moment, some choose to hold on, some choose to flee, while more are quietly waiting, hoping to capture a fleeting glimmer of dawn in this storm.
The market's reaction is always so direct and brutal. As the cryptocurrency market fell back, the total market value dropped below $2.4 trillion in just a few days. Altcoins like Ethereum and Solana's BNB were particularly hard hit, with declines exceeding 10% since the peak on October 30. In contrast, although Bitcoin also experienced a decline, its drop was relatively small, maintaining its dominant position in the market. This scene inevitably reminds one of the old saying: 'Only after the tide goes out do you discover who's been swimming naked.'
In this upcoming altcoin liquidation feast, every investor will face a severe test. Will they choose to hold on to their beliefs, or will they choose to cut losses and escape this risky sea? This is not just a simple choice; it is a comprehensive test of human nature, wisdom, and courage.
For those who still stand firm in the cryptocurrency market, they may be undergoing a spiritual baptism. Every fluctuation in the market is a test of their faith; every rise and fall in prices is a sharpening of their wisdom. They know that only by weathering the storm can they see the rainbow; only by enduring the winter can they welcome the warmth of spring.
For those who have chosen to leave, they may be seeking new opportunities and directions. In the ever-changing world of cryptocurrency, there are no eternal winners, nor are there eternal losers. Every departure is for a better return; every abandonment is for a more splendid rebirth.
Regardless of what the future holds, we should maintain a heart that reveres the market and respects the rules. In this winter of altcoins, may every investor find their direction, hold on to their beliefs, and bravely face every challenge posed by the market. Because only in this way can we, on some day in the future when the market warms up again, stand confidently and calmly at the peak of victory.
