Today the Fear and Greed Index surged to 94, similar to the period from late October 2020 to early February 2021. Many people are saying that only Bitcoin is rising while most altcoins are still stagnant, feeling only fear and no greed. If we completely replicate: at the end of December 2020, Bitcoin broke through the previous high from December 2017, and by early January 2021, the price of Bitcoin was already twice the high point at the end of 2017, while Ethereum was still not even half of its early 2018 high. Currently, Bitcoin is 1.5 times the high point of 2021, and Ethereum has reached 70% of the high point of 2021, so it seems a bit better when looking at it this way.
Regarding whether altcoins can rise, there are two viewpoints: one is that the time has not yet come, Bitcoin needs to continuously break previous highs to ignite the vast market for altcoins; the other is that the market has changed this year, there has not been any truly valuable innovations landing, causing fatigue towards mere narratives, and investors have become more mature, opting for low circulation and high FDV VC coins. Investors are becoming increasingly mature, and the market will become structured (the good will get better, and the bad will get worse
