The market has been completely cold lately, as if it has entered a winter. After two consecutive days of decline, altcoins have directly 'returned to their starting point,' feeling even worse than the 519 incident in 2021. The most helpless part is that after that black swan event, the market at least had a rebound, but this time it feels like it has entered an 'endless downward spiral' mode, devoid of vitality.
So the question arises, has no one really been managing altcoins this time? Or is it another grand play of 'scamming and washing'? That's what deserves consideration.
Reviewing the 519 incident: At least there was hope then, but this time there seems to be no light?
In contrast to the bull market in 2021, although the market experienced a shocking moment, there was at least a clear rhythm to it:
Bitcoin takes the lead: Bitcoin gallops ahead, bringing the market to a climax.
Ethereum rebounds after playing dead: On January 19, Ethereum broke through its previous high; on January 21, it experienced a significant drop and washout, but quickly rebounded a week later.
Altcoins soar madly: In the next three months, the increase in altcoins was extremely exaggerated, with many coins directly increasing tenfold. Although that bull market ended with the 519 black swan, at least before that, retail investors could still enjoy a wave of 'final revelry.'
However, this time, the market has not shown a similar rhythm; the downward trend continues, altcoins have suffered severe declines, and even the hope of a rebound is nowhere to be seen.
Is it the market makers washing the market, or is the market really cooling down?
Many people will ask, 'What's different this time from before?' Some believe that this market feels completely abandoned, with even the main capital retreating. But others think this is a typical 'scamming' rhythm: market makers deliberately create despair, washing out retail investors' holdings to prepare for the next round of increases.
This viewpoint is not without basis; after all, in the past few rounds of bull-bear alternation, every time the market fell into silence, it would eventually welcome a strong rebound, often occurring when retail investors were completely desperate and sold off their holdings.
Controversy: Do altcoins still have a future?
This is currently the biggest point of contention. Some people firmly believe that altcoins have no future, and that both capital and market attention are concentrating on Bitcoin and Ethereum. However, others believe that each bull market has different main themes, and altcoins are just waiting for the next opportunity. For instance, this new opportunity might be the combination of AI, blockchain, and real-world assets. Once capital and sentiment return, altcoins will still have excess returns.
The differences here are quite obvious:
Bearish perspective: believes that altcoins no longer have a main theme and that capital will no longer flow in.
Bullish perspective: believes that new technologies and trends will bring a new round of opportunities, and altcoins will fly again.
Your opinion: Is the opportunity here, or is it a scam?
The question now is whether the market has completely lost its vitality, or if the market makers are just doing a final wash before the 'year-end red packets'? Do you think altcoins still have a next opportunity? Feel free to share your thoughts in the comments section; after all, in such a market, discussion and reflection might be our best weapons.
Do you believe that the market makers will 'give out red packets every year, and this year will be no exception'? Or do you think this time altcoins have really cooled down?
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