During this cycle, many people either did not experience the last alt season or have a blurred memory of it.

I suggest you take some time to review the K-line charts of those altcoins that survived the last cycle and are still around. What will you discover? Most coins have dropped from their peak in 2020 to 2021 all the way down to last November, with perhaps one or two small rebounds along the way, but what about the overall decline? Starting from 10 times, and 100 times is not surprising. This is the so-called "bubble-popping" process, and those highs are the peaks of the bubble from that year.

But don't just focus on the decline. Think back to what the market capitalization of altcoins was at that time? Just a few million to tens of millions of dollars. How did they rise from obscurity, considered worthless, to driving people crazy step by step?

Take DENT as an example. When it was launched in 2019, it dropped to as low as 0.000065 USD. During the first round of the market rally, it barely moved, either going sideways or continuing to drop. It wasn't until the second round of the market started that it soared to 0.022 in 3 months, increasing by 338 times. And then? It entered a four-year decline, dropping back to as low as 0.00018 last month.

Have you ever seen so many altcoins on a leading exchange, even those listed on the main board, with a market cap of only 10 to 20 million USD? Some projects have raised tens of millions or even over a hundred million USD, and now their prices have all collapsed. If you enter the market now, your cost is even lower than that of institutions—this is something that would have been unimaginable before.

So the question arises: will they go to zero? Are they still valuable? Once you figure this out, you'll know what to do next.

Many people say that we are in a bear market now. If we must call it a bear, then it is an altcoin bear. However, I think that the drastic decline of altcoins in the past few years is not a bad thing. It has prevented institutions from casually creating high market cap bubbles and has brought altcoins back to a reasonable valuation system, which is precisely laying the foundation for the next round of "bubbles."

Remember one thing: the bubble market of altcoins will always arrive when no one is expecting it. And by the time most people react, they often have already replayed the script of the last cycle—becoming the one who picks up the bubble.