In yesterday's discussion on "Which coin do you regret buying the most in this bull market?", an obvious consensus is that investors who bought altcoins generally regret it.
Whether it is the old altcoins that followed the last bull market, such as UNI, DOT, DOGE, or the new faces that emerged in this round, such as ORDI, BB, and WLD, these choices seem to have failed to bring the expected returns, but have fallen into a long-term decline and plunge.
This phenomenon reflects the deep-seated problems in the current cryptocurrency market.
With the acceleration of the listing of new coins, many projects seem to have fallen into the vicious circle of "listing and making money". A large amount of funds tend to a few high-quality projects, resulting in their market value becoming higher and higher, while altcoins are rarely sought after by investors due to lack of financial support.
However, this does not mean that altcoins have no opportunities. In fact, the rise of altcoins is often closely related to the extreme greed of market sentiment.
When market sentiment reaches an extreme greedy state, such as the greed index exceeds 80, and all mainstream coins hit record highs, altcoins are usually able to usher in a short-term surge opportunity.
In addition, when the proportion of the top five currencies by market value drops sharply, it is also the time for altcoins to show vitality.
However, the current market situation shows that the top five currencies by market value still account for more than 80% of the total market value, which means that it is not easy for altcoins to get a share. In the late bull market, altcoins may experience a short period of outbreak, but this is usually one of the signals of the transition between the bull and bear market cycles, and it is also accompanied by the risk of a large number of retail investors being trapped.
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