The Plunge of Altcoins: Historical Repetition or a New Round of Opportunity?

The continuous decline over the past few days has almost returned the prices of altcoins to their starting point, reminiscent of the black swan event on May 19, 2019. However, this time the pullback does not seem to have rebounded as quickly as it did back then; instead, it has entered a prolonged downward trend, as if no one in the market is paying attention to it anymore.

Compared to that time, the decline of altcoins this time is more severe, along with a greater overall market retracement. Looking back at the bull market of 2021, BTC once dominated the stage, while ETH remained silent until it broke its historical high on January 19. However, just two days later, on January 21, Ethereum experienced a 20% single-day plunge, and the contracts in the market were completely washed out. After a week of volatile adjustment, the market gradually warmed up, and altcoins experienced a surge, rising for three consecutive months, until May 19. At that time, ETH doubled, and many altcoins saw increases of over ten times! However, after the bull market ended, the upward movement in the market became more constrained, with only a few individuals able to benefit from it.

But don’t worry, the market has its own rhythm. Every year, traders distribute bonuses, bringing some surprises to retail investors, and this year is no exception. With patience, opportunities will always come.