Hello everyone, I am Mr. Long. Today we are going to talk about this bull market. Is there still a copycat season in the cryptocurrency circle?
It is the explosion of altcoins. Well, before we start, we need to define this issue accurately. First of all, its time range is in this bull market, which refers to the first bull market of the entire crypto circle, which is from today to the end of next year, or it may be the beginning of the year after next. The time is uncertain. Altcoins refer to all currencies that copy Bitcoin, imitate Bitcoin, and learn from Bitcoin. So in this sense, all currencies in the currency circle except Bitcoin are called altcoins, because Ethereum also copied Bitcoin, right?
It is an iterative upgrade based on Bitcoin. In fact, it is the second one, but it has more changes. Our entire currency circle is truly doing original development.
It was Satoshi Nakamoto. It may have taken him or his team 5 or even 10 years to create Bitcoin. But after Bitcoin came out, other currencies became very easy to come out. Dogecoin only took a programmer two or three days to release, because he just changed some codes.
Then there is Ethereum. It has changed a lot. Now even the consensus mechanism has been changed. It has changed a smart contract. But no matter how it is changed, it is still an improvement based on Bitcoin.
So in my understanding, in the cryptocurrency circle, all currencies except Bitcoin are called altcoins. It’s just that some people with higher market capitalization have named them mainstream coins based on altcoins, and that’s all.
OK, now that we have understood the concept of altcoin, let's answer this question again.
In this bull market of our currency circle, will there be a big explosion of altcoins? I believe many friends think there is altcoin season, some friends think there is no altcoin season, and many mining circle bosses also think there is no altcoin season. For example, Shenyu thinks there will be no altcoin season in this wave. Why does he say that this wave is led by institutions? Institutions do not like to speculate on altcoins. In fact, there is not a world of martial arts where there are people. In fact, whether it is capital, project parties in the currency circle, or hot money.
Whether it is exchanges or even retail investors, everyone hopes that altcoins will experience a big surge. Otherwise, there is really no way to attract more people to the cryptocurrency circle. You can take a look at this.
Musk thinks from the most fundamental principle, how to increase the market value of the cryptocurrency circle? Let his Tesla company buy a lot of Bitcoin, right?
So how can we increase the price of Bitcoin?
How can we increase the overall price and market value very simply?
If you understand it from the most basic principles, you must let money in, let money from all over the world come in. How can you make the world move forward?
We must make people all over the world willing to buy coins. Isn’t that simple?
So how can we make people all over the world willing to buy Bitcoin?
Then we only need more junk coins, air coins, and computing power coins.
You can do a questionnaire survey, for example, you can go to the street and ask 10,000 people,
You ask him, if I give you 1,000 yuan now, you must buy coins, right?
Would you rather buy Bitcoin or altcoin? The answer is that most people would choose altcoin, although Bitcoin seems to have a higher cost-effectiveness. Of course, if you don’t believe it, you can look at some data. What data is it?
If you look at the whole country, are there more people speculating in A-shares or buying lottery tickets? Is there more lottery players or more people speculating in stocks? Of course, there are more people buying lottery tickets.
This thing is also persistent, losing money, losing money persistently.
You will find that there must be such people around you, who buy lottery tickets for a long time and lose a lot of money, but they still buy lottery tickets. Why?
Because everyone has a dream. What is that dream? It is that if we buy a copycat coin, we may be able to make 100 times the profit, right?
So, if you understand this logic, it will be easier to understand why the entire crypto industry is bullish.
Every wave brings about a big explosion of altcoins, right?
This wave has actually already exploded. Tugou, inscriptions, runes, indeed I have seen some people have made money,
But most people lose money, so I personally think that no matter how attractive the altcoins are,
We cannot put too much money into this altcoin. At most, we can take 10% or 15% to let most of the new investors, such as those who will enter the market in 2025.
Let them buy this altcoin, what should we do?
It is enough for us to use most of our money to buy Bitcoin.
I think there will definitely be a season of altcoins, from two perspectives. The first is the pattern. In every bull market in the cryptocurrency circle, there has been a huge explosion of altcoins. The consensus on altcoins is not only the consensus of retail investors, but also the consensus of institutions, the consensus of capital parties, and the consensus of exchanges. As long as everyone reaches a consensus, it will be easy to pull it up.
Second, the reason why the cryptocurrency world is attractive is not because of its applications, right? It is because of the myth of getting rich quickly, the fundamental nature. Let me ask you, are you joining the cryptocurrency world for artificial intelligence? Is it to change the world?
Is it to promote the development of the blockchain industry worldwide? Are you here to be a scientist?
No, the purpose of most people speculating in cryptocurrencies is to make money, to get rich quickly, to improve the lives of their families, and to change their destiny, right?
Of course, although most people cannot change the fact that most people lose money, their dream is still there. If the cryptocurrency circle loses even this dream, then who will come to trade in cryptocurrencies?
And this altcoin is not completely useless. It can indeed bring a lot of traffic to the currency circle.
A large amount of funds will eventually be transferred to Bitcoin, and institutions and capital parties will eventually exchange the altcoins for Bitcoin.
