Most people in this cycle have not experienced the last round of altcoin bull markets, or some old-timers have already forgotten the last round of altcoin strategies.

If you have time, go and pull up all the altcoin charts from the last round and see how many survived to this round.

What you see is that more altcoins have dropped from the highs of 2020-2021, falling all the way to November 2025. Even if they experienced 1-2 stages in between, overall they have dropped by a factor of 10 to 100 or more.

This space is what is called ‘deflation,’ and the highs back then were the ‘bubble’ peaks.

You only see the drop but forget about the altcoins at that time. Most of them only had a market value of a few million to tens of millions, rising from low to high, from being worthless to being considered valuable.

For example, DENT, which was launched in 2019, hit a low of 0.000065. The first round was relatively stable; in between it was either a crash or a shakeout until the second round when it rebounded again, rising to 0.022 in just three months, an increase of 338 times, then it began a four-year decline, dropping to a low of 0.00018 last month.

When have you seen so many altcoins on the BN? Even if they are on the main board, they only have a market cap of 10 to 20 million. Some altcoins raised tens of millions or even over a hundred million dollars, and their prices have fallen below the issue price. Going in now is equivalent to being lower than the institutional price, which was unimaginable before.

So will they go to zero? Do they have value? Once you understand this point, you will know what to do next.

Many people are talking about the bear market. If you want to talk about a bear market, just say altcoin bear market. The altcoin drops over the past few years, conversely, I don’t think it’s a bad thing; rather, it’s a good thing that prevents institutions from creating high market values and brings altcoins back to their rightful value system, laying the foundation for future ‘bubbles.’

Remember, the altcoin ‘bubble’ will definitely come at a time when no one expects it, and when most people wake up, they will, like the last cycle, become those who catch the bubble. #加密市场反弹 #ETH走势分析 #比特币波动性 #香港稳定币新规 #加密市场观察