1. Altcoin projects often face the challenge of tight funds in the early stages, especially in the early stages of long bear markets and bull markets. In order to maintain operations and pay daily expenses, project parties have to regularly sell the tokens they hold to raise funds. This process limits the upside potential of altcoins, making it difficult for them to perform significantly in the early stages of a market recovery.

2. Until the middle and late stages of the bull market, when mainstream cryptocurrencies such as BTC have accumulated considerable gains and attracted a lot of capital attention, some investors began to seek higher return opportunities. At this time, funds began to flow into the altcoin market, giving rise to a carnival season for altcoins. During this stage, the sharp fluctuations and potential high returns of altcoins attracted many speculators, and also provided project owners with a good opportunity to cash out.

Regarding the debate on whether there will be an altcoin season in this bull market, I think its existence is reasonable. At the peak of the bull market, the activeness and pull-up behavior of the altcoin market are often the result of joint promotion by project owners and investors, aiming to maximize profits.

In terms of coping strategies, the following adjustments can be considered:

1. Steady initial layout: In the early to mid-term of the bull market (such as before October 24), maintain a relatively balanced position allocation, such as 50% BTC as a safe-haven and value-added asset, 30% allocated to mainstream public chain tokens such as ETH, SOL, BNB to capture industry growth dividends, and the remaining 20% ​​invested in potential popular altcoins to gain higher returns.

2. Mid-term adjustment strategy: As the bull market deepens (such as at the end of October), if BTC completes the main rising stage, you can adjust your positions appropriately and increase the allocation ratio of mainstream public chain tokens to 40%. At the same time, keep paying attention to popular altcoins and prepare to increase investment when the altcoin season arrives.

3. Flexible response during peak periods: When approaching the top of the bull market (such as the end of December), in order to avoid market risks, a certain proportion of USDT can be allocated for arbitrage operations, while maintaining positions in mainstream tokens and popular altcoins, but pay attention to risk control and reduce positions in a timely manner.

4. Be cautious in the closing phase: As the altcoin season draws to a close (e.g., the end of March 25), you should significantly reduce your altcoin holdings and instead hold more USDT or stablecoins to prepare for possible market corrections.

5. Exit strategy: Once market signals show that the bull market is over, liquidate your positions decisively, pocket the profits, and pay attention to the beginning of the next market cycle.

Of course, for investors pursuing high returns, when it is confirmed that mainstream currencies such as BTC and ETH have broken through new highs and the market atmosphere is enthusiastic, they can consider increasing their positions in altcoins, but they must do a good job of risk management and avoid blindly chasing high prices.