#山寨季何时到来？ #比特币突破10万？

Today the Fear and Greed Index surged to 94, which is very similar to the end of October 2020 to early February 2021. Many people are saying that it's just Bitcoin rising while most altcoins are still lying flat; it feels more like fear rather than greed. If we completely replicate: at the end of December 2020, Bitcoin broke through the previous high from December 2017, and by early January 2021, Bitcoin's price had already doubled the late 2017 high, while Ethereum was still less than half of its early 2018 high. Currently, Bitcoin is 1.5 times the high of 2021, and Ethereum has reached 70% of the 2021 high. Looking at it this way, it seems to be getting better.

Regarding whether altcoins can rise, there are two opinions: one is that the time has not yet come; Bitcoin needs to continuously break previous highs to ignite the vast sea of altcoins; the other is that the market has changed this year. There has been no real, valuable innovation that has landed, and the market has grown weary of pure narratives. Investors are more mature now, preferring low circulation and high FDV VC coins, and as investors become more mature, the market will become more structured (the good will get better, and the bad will get worse).