Looking back to the period of 2016–2017, the cryptocurrency market operated very differently compared to now. At that time, altcoins were primarily traded in pairs with BTC like XRP/BTC, ETH/BTC, rather than USDT or the countless stablecoins we have today.

None:

  • Hundreds of stablecoin pairs

  • Dozens of new tokens are launched every week

  • The explosion of perpetual contracts and high leverage

Spot trading is the center of every strategy.
Futures, if any, will only revolve around 5-10 major coins, liquidity is still limited, and it hardly affects the overall market structure.

The Market Structure Back Then Was Very 'Clean'

  • Fewer coins → less noise

  • Fewer derivatives products → less manipulation

  • Prices reflect true supply and demand, not distorted by funding rates or excessive leverage.

The strategy at that time was also extremely simple:

  • Buy spot

  • Patiently hold

  • Only sell when profit targets are reached or forced to cut losses

None:

  • Leverage 50x–100x

  • Constantly shorting every bounce

  • The game of funding rates

  • Algorithm hunting stop-loss at every small price step

It is in that 'pure' context that the strongest altseason in history has emerged. Money flows clearly, market confidence is high, and profits belong to those who are patient enough.

Today's Market: More Complex and Harsh

Compared to the past, crypto now has a completely different face:

  • Leverage is almost infinite

  • Permanent shorts everywhere

  • Tokens launched too many, quality varies

  • Dense information noise

  • Impatient investors

  • Tokenomics increasingly disadvantageous for holders

The market no longer favors long-term waiting as before. Most short-term volatility is driven by derivatives, algorithms, and extreme FOMO/FUD psychology.

Will the 'Good Old Days' Come Back?

Perhaps not.
The market has matured more, but is also colder and more ruthless. The game has changed, and so have the rules.

The only thing that can be done is to clearly understand the differences between the two periods, so as not to apply the 2017 mindset to a 2025 market full of leverage, derivatives, and noise.

The good old days - simple, slow, and full of patience - may only be memories. But the lessons from them are still valuable.