The altcoin season 24 years ago had several notable characteristics:
1. Once BTC surged, ETH followed, and during ETH's rise, many altcoins surged alongside, occasionally with some altcoins leading ETH by over 10 times in a strong rally. But now, it’s clear that after BTC rises, ETH does not follow, and this has long been evident.
2. In 2021, after BTC and ETH entered a bull market, altcoins showed a significant sector rotation effect, with public chains rising first, then DAOs, followed by NFTs, and so on; although there was no sector rotation rise in 2023, there were still conceptual sectors that rose simultaneously, such as L2 and AI sectors.
3. In the past altcoin seasons, there were numerous coins with a continuous upward trend, basically only three types of upward patterns: one was a gradual rise along the moving averages, making you hesitant to chase, and once you did, you wanted to take profits quickly; the second was sharp rises and falls, with rapid increases and then a flash crash of 30% to 50% during pullbacks, wiping out high-leverage long positions; the third was a zigzag pattern, with continuous ups and downs.
What about the current altcoin season? Bitcoin has reached a peak of 110,000, yet altcoins remain stagnant, with only a few valuable coins standing out, and currently, we can only look at the present status of Ethereum.
