The wash process is ongoing. Since March 20th, despite the general pessimism in the market, the actual decline in Bitcoin (bread) is not large, only within a dozen percentage points. However, this continuous oscillating decline has had an extremely adverse impact on the so-called "altcoins", and many altcoins have fallen by more than 60%. At the same time, investors do not seem to be very interested in Bitcoin, resulting in most of the profits of investors involved in the altcoin market from the beginning of this year to the present have been wiped out, and some have even suffered losses in their principal.

Regarding the expectations of the bull market, some people do compare the current trend with the market at the beginning of 2021, especially the price trend of Bitcoin. However, if you analyze it carefully, you will find that this comparison is not entirely accurate. The trend of Ethereum and many altcoins does not match the current situation. In the last round of bull market, even if Bitcoin rose, altcoins could rise steadily in the slow bull market, and when Bitcoin fluctuated at a high level, Ethereum led the altcoins to a climax. But this is not the case now.

The main rising wave of this round of bull market has not yet arrived, and many people have misunderstood the judgment of the market. If we compare the historical market, the current trend is closer to the stage before the 312 incident in 2020, but the current decline is relatively gentle, and there is no sharp drop. From a cyclical perspective, such a market trend can reasonably explain why many altcoins are still at the bottom and why new coins continue to fall after they are launched.

As for why Bitcoin can soar and why meme and certain sectors are strong, this is mainly due to the promotion of multiple positive news such as the passage of ETFs, the advance of halving benefits, and the fact that the interest rate cut in January has not been postponed. These factors have jointly prompted the entry of formal funds, thereby pushing up the price of Bitcoin. The rise of meme and AI sectors is more to create market hotspots, attract new investors to enter, and further promote the prosperity of the market.

Judging from the current situation, although the main upward wave of the bull market has been delayed, it is expected that the delay will not be too long. Since Bitcoin has already risen to a certain extent, the subsequent correction and take-off will be faster, and will not last for several months like the slow bull in 2020.Therefore, from an overall perspective, the end of the bull market is still expected to be around the end of 2025.

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