Why was the previous bull market so strong, while the current bull market is generally sluggish?
First, the previous cryptocurrency market was relatively small, and investors were relatively concentrated in choosing currencies. Therefore, once a currency was sought after by the market, its price would rise rapidly.
The current cryptocurrency market has become very large, with various currencies emerging in an endless stream, and investors have more diverse choices, which has also led to the dispersion of market funds and made it difficult to form a large-scale rising market.
Second, the previous currency circulation market value was relatively low, so a smaller amount of funds could bring a larger increase. Now, the circulation market value of many mainstream currencies is already very large, and more funds are needed to push their prices up.
In addition, the previous bull market track was relatively small, and investors were more likely to form a consensus and drive the market up. Now, various sectors and concepts have appeared in the cryptocurrency circle, and investors are easily distracted and it is difficult to form a joint force.
Furthermore, the number of players in the market is not increasing enough, and there are countless people who have withdrawn from the circle. In addition, many people do not understand BTC and blockchain, which also limits the market's room for growth.
Finally, current project owners tend to focus more on short-term interests and lack long-term vision and pattern, which also affects the healthy development of the market.
Looking back on these reasons, it is not difficult to find that the current cryptocurrency market has undergone earth-shaking changes.
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