BTC has been fluctuating for half a year now. There is strong support when it goes down, but it's quite difficult to move up. Fortunately, it can still stay within a range. Looking at those altcoins like ena and ethfi that have a fundamental base, they are constantly breaking new lows, while those older coins that have gone through several bull markets have also fallen back to the price at the beginning of this bull market. Even ETH has dropped back to its price at the beginning of the year. This makes one wonder if there's still hope for altcoins.

Personally, I think there are still opportunities for altcoins, but we can't look at it from a technical analysis perspective. Right now, technical analysis can hardly determine if it can rise; we need to ponder from the perspective of trends and human nature. Since the last bear market, altcoins haven't gone crazy.

Those market manipulators are out to make money. Take the meme market that many people have been discussing recently; those coins might pump for a few minutes before dropping to zero, but at least there are moments of a pump, which is just to find people willing to take the high positions. However, so many altcoins overall have not broken through any significant highs.

When we break it down to each coin type, not all of them have a chance to rise again. Especially those coins that just ride the hype; once the hype is gone, the project side makes enough money and runs away, and they get delisted by CEX, which worsens liquidity, making it less likely for them to rise again.

However, because of this, when these coins drop to their lowest point, some may experience a brief 'dead cat bounce', but this is a rare situation. It can be treated like playing with those low-tier coins on-chain, where the chance of success is slightly higher than currently playing with low-tier coins.