The market has been good these days; Bitcoin almost broke its previous high yesterday, just over $100 away from the highest point of the last bull market.
You must know that at such a high level with an increase of nearly 6% in a single day, it is already quite satisfying.
But many retail investors actually do not hold Bitcoin, so it hasn't triggered a collective frenzy—because this bull market has nothing to do with them.
So most people are starting to focus on the next topic: When will the altcoin season arrive?
But to put it bluntly, the altcoin season? It might never happen in this lifetime.
Next, let me summarize from 8 aspects why such extreme views exist:
1. Don't think that after Bitcoin takes off, it will naturally trigger an altcoin season. There aren't so many things that happen naturally in this world. Bitcoin and altcoins are completely different species, and there is no necessary connection between them.
2. The essence of craving an altcoin season is because you want to break free from being stuck in altcoins or because you don't hold Bitcoin at all and want to gamble on the explosion of altcoin season. The old method of 'seeking a sword in a boat' no longer works, as the underlying logic and ecological environment have changed.
3. From a macro perspective, large funds will not play with altcoins, because altcoins cannot deeply accommodate large funds. Large funds require deep enough reservoirs that allow them to enter and exit freely with good returns. Just look at how many altcoins have outperformed Bitcoin in this wave?
4. From a micro perspective, retail investors prefer to play with lower market cap and higher odds coins. This round of altcoins hasn't taken off at all, VC coins are also losing enthusiasm, while memes are dominating. Just look at the coins recently listed on exchanges to see what is popular.
Your altcoin market cap is so high, yet the pattern is so small, constantly pumping and dumping. Who the hell would dare to play with you?
5. The reason for playing with altcoins in the past was that there weren't many choices, but now that the market has shifted from a seller's market to a buyer's market, what advantages do you still have?
6. Another crucial flaw of altcoins is that they have been issued for too long. Regardless of what track you are leading, the time of your issuance is too long. To put it bluntly, the concept of your altcoin is already outdated. Do you understand?
If you say you are the leader of DeFi, the leader of NFTs, the leader of GameFi, people will think you are foolish. Are you still playing with such old concepts?
We have all gone Trump, all gone MAGA, all been banned, are you a caveman?
7. A long issuance time means that the chips are dispersed, which increases the difficulty of controlling the market. It means there are many stuck positions, leading to inconsistent interests, so the project side does not dare to pump. Once they pump, the profit-taking positions will run for safety, and if they pump again, they have to break the stuck positions, continuing to pump will lead to losses for the project side.
So this is why altcoins often just pump once and then deflate. If the underlying logic and ecological environment do not change, an altcoin season cannot happen.
In conclusion, so-called altcoins are just a batch of relatively endorsed conceptual track tokens that emerged during the initial explosion of ICOs in the past, a product of that special era when cryptocurrency was still wild and unregulated.
Just like in 2019-2020, the entire cryptocurrency circle was highly integrated with capital.
If you are still holding onto the altcoin concept, in essence, it is no different from players still holding onto the PlusToken funding scheme, or those who still believe they can get rich through WeChat business models.
That era has passed; you must admit that you have become cannon fodder of the times.
And not deceive yourself every day:
After Bitcoin breaks a new high, the altcoin season will explode.
After Ethereum breaks 4000, the altcoin season will explode.
After XXXX, the altcoin season will explode.
Bitcoin has quadrupled from the bottom until now, how many altcoins dare to follow this wave of market?
Orange Seat speaks quite directly; wake up, the altcoin season will never explode again.
8. Lastly, from the perspective of the project side, let me say one thing:
If I have money to pump you, I might as well start a new altcoin.
This way, I can spend one amount of money and hold tokens for two projects, isn't that nice?
If I closely follow the current events and use the pump money to incubate memes, guess how many coins I could issue?
I am Orange Seat, a man focused on recovering cryptocurrency assets, able to help you get rich.
Two years ago, we created a web3 terminology dictionary for our paid students, named the Red Book, which includes hundreds of definitions and application scenarios of professional terms. Now I’m giving it to you for free.
Click my avatar to get the electronic version of the cryptocurrency Red Book for free.
