"If I didn't look at the big cakes and only looked at the copycats, I would have thought it was 312."
This sigh is not groundless. The on-chain data truthfully presents a tragic scene: the red downward trend is ruthlessly devouring the community's hope, and there is widespread grief. Taking the BIO ecosystem as an example, $URO fell by as much as 36.2%, and $RIF was not to be outdone, falling by 21.8%.
Only the big cake is rising, the copycat is not satisfactory
As Bitcoin further aggregates on- and off-site liquidity, its market share has reached a record high of 61.6% in recent years. However, the performance of altcoins has mostly fallen, and only BTC, SOL, and XRP have risen among the top ten crypto assets. Since the liquidity in the existing compliant entry channels is mostly concentrated in Bitcoin and its related assets, the liquidity of altcoins has been transferred.
In addition, the exchange rate of Ethereum, the second largest cryptocurrency, to Bitcoin fell to 0.03217, a new low in nearly three years, and its poor price performance has also caused some doubts in the Chinese community about Ethereum and its operating model. As of press time, Ethereum is quoted at $3,125, and has long been sideways at the $3,000 mark.
Bitcoin 40,000, Ethereum 3,000
Bitcoin is 60,000, Ethereum is still 3,000
Bitcoin is at 90,000, while Ethereum is still at 3,000
Bitcoin is about to reach 100,000, while Ethereum is still 3,000
A flood of profit-taking
Since Trump confirmed that he would return to the White House, the altcoin season has come like a tsunami, with crazy price increases and fierce and cruel PVP. The great waves have washed away the sands, creating a large number of new rich people in the cryptocurrency circle.
For example, a smart money address opened a position in $RIF at a low point in late September when the DeSci Meme narrative had not yet taken off, and made a profit of $1.05 million with only $14,000, with a return rate of 7,400%. This is a myth that no trading market dares to imagine, and it can only happen in the cryptocurrency circle.
For example, in just 20 days, a trader bought URO with $800 and eventually made a profit of $572,000; he bought RIF with $300 and earned $957,000. This means that he used an initial capital of $1,100 to push the value of his position to $1.62 million, achieving an astonishing increase of 3,503 times and 714 times respectively.
There are countless examples like this. These profitable funds gradually sold altcoins during the rise, causing altcoins to plummet and usher in today's "Altcoin 312".
Where will these profitable funds go?
At the same time as the altcoins were collapsing, the price of Bitcoin broke through 97,000, setting a new record. Funds were withdrawn from the altcoin market, flowed back to the trading platform, and finally flowed to Bitcoin. Bitcoin once again used its price to reiterate that it is the mainstay of this market.
The End of Altcoins Is Bitcoin
The best example is MicroStrategy. As of November 21, MicroStrategy's Bitcoin holdings hit a new high: 331,200 Bitcoins, with an average purchase price of $49,874. It easily made a profit of more than double the cost price.
Not to mention Wall Street giants such as BlackRock. If they start buying Bitcoin in advance when applying for a Bitcoin ETF, their costs are basically controlled to keep the price of Bitcoin between 20,000 and 60,000, and no one knows how many chips they have taken the opportunity to hoard.
Perhaps, for ordinary investors, the wisest choice is to hold on to Bitcoin and have fewer fantasies of getting rich overnight. Use a large position to deploy Bitcoin and only use a small part of the funds to "gamble". Do you think you are smarter than Wall Street elites such as BlackRock and MicroStrategy?
Don't worry, just find your own rhythm.
Investing is such a game. We make judgments and bets based on our cognition. If we are right, we make money; if we are wrong, we review the situation. We are always curious and in awe.
Can the bull market continue?
There is still a lot of room for Bitcoin's subsequent bull market. For example, the bull-bear index has turned positive recently. And the accumulation of whales on the chain is also rising, similar to the situation in 2020. The subsequent halving cycle plus the liquidity of institutional entry can support a certain trend in the future.
