Are there any copycats left?
Copycats are the main force in the currency circle. Without copycats, there would be no currency circle ecosystem.
Why do people say that the copycat season is gone? Because once Bitcoin falls, copycats start to fall.
Now institutional funds are only used to buy Bitcoin. The capital structure is very different from before. In addition, some high-market-value, low-circulation coins have been destroying the market's capital stock. Now everyone is learning to speculate on new rather than old, and funds are transferred from VC coins to fully circulated MEME and some new coins.
If there is no copycat season, then no one will play in the currency circle in the future. No one will maintain the ecology of Bitcoin and Ethereum. Institutions will enter the market and run after harvesting. What is the difference between this and stocks? Everyone will be cut.
So I firmly believe that the outbreak of copycat coins will come sooner or later, and it must be produced in fully circulated currencies and meme coins.
Don't look at the trend in the previous Bitcoin bull market. The current bull market has been manipulated by most institutions and governments. Compared with the past, the current copycat is a normal correction. The passage of ETF next month may be a turning point.
The game in the cryptocurrency market is getting more and more intense. Are you ready for the challenge?
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