The outbreak of altcoins often follows the peak of Bitcoin. We can divide it into three stages:

Stage One: Bitcoin rides alone

Expected time: From the halving in 2024 to early 2025. This is a market dominated by Bitcoin, where most funds chase 'digital gold', and altcoins are in a period of silence.

Stage Two: Smart contract awakening led by Auntie

Expected time: The first half of 2025. Institutional funds flow into smart contracts and infrastructure assets.

Stage Three: Alternating madness and despair

Expected time: From mid-2025 to the end of the year. Retail investors flood in, 'meme coins' bloom everywhere, and funds rotate quickly. At this time, the ability to distinguish between opportunities and traps is particularly important.