The decline of altcoins is severe, and the fundamental reasons are as follows:
When Bitcoin rises, there are many buyers of altcoins, at this time, the manipulators take the opportunity to sell off heavily, which is why the increase of most altcoins is far less than that of Bitcoin.
The manipulators hold a large amount of chips, only selling without ever supporting the market, even when there are investors trying to buy the dip during the decline of altcoins, they still continue to sell off.
In the past, in the cryptocurrency circle, the difficulty of launching new coins was quite high. The manipulators would focus on assessing the distribution of chips and carefully control the market, and the requirements of exchanges were quite strict.
However, nowadays, Binance can launch many new coins in a month, making it extremely easy to list new coins. The manipulators only care about selling off; if a project fails, they just switch to a new project with a different PPT.
Now, as long as there are USDT and corresponding resources, listing new coins has become effortless, and the exchanges do nothing about it.
If exchanges could force project parties to support the market, perhaps the project parties would take measures to protect the market, and altcoins wouldn't fall so severely. Ultimately, it is the lack of regulation that has led to the current situation.
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