The explosion of altcoins often occurs right after the peak of Bitcoin. We can divide it into three stages:

Stage One: Bitcoin rides alone

Expected time: From the halving in 2024 to early 2025. This is a Bitcoin-dominated market, where most funds chase 'digital gold', and altcoins are in a period of silence.

Stage Two: The awakening of smart contracts led by Auntie

Expected time: The first half of 2025. Institutional funds flow into smart contracts and infrastructure assets.

Stage Three: The alternation of madness and despair

Expected time: From mid-2025 to the end of the year. Retail investors flood in, 'meme coins' flourish, and funds rotate quickly. At this time, the ability to distinguish between opportunities and traps is particularly important.