I have been thinking about the development of this bull market recently, especially the trend of Bitcoin and altcoins.

2025 will not repeat 2021. Many people use 2021 as a reference, but 2021 itself is different from 2017 and more like 2013, although the second wave of the market is somewhat deformed.

2025 may replicate the trend of 2017, that is, there will be no obvious two-stage market, but it will not be exactly the same.

Judging from the trend of altcoins in the past two months, they are no longer following Bitcoin like in 2021, especially after January 12, when altcoins began to follow Ethereum. Although the prosperity of Ethereum's ecosystem has allowed most altcoins to follow its trend, some altcoins have their own independent rhythm.