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broke through 70,000 but did not stand, mainly boosted by bitcoin ETF, and the upper space was conservatively looked at 50 points.
Historically, altcoins have tended to be lackluster in the early stages of a bull market, with Ethereum leading the pack until Bitcoin breaches the price ceiling, and the starting point of an altcat bull market tends to be before BTC breaks through the $69,000 high.
In the past bull runs, most altcoins underperformed Bitcoin during Bitcoin's rally in late 2020 until early 2021 began to take off. In the last bull market, from January to May 2021, and from August to November, the market was in a state of "only going up, not down". Most of the altcoin's earnings are concentrated in these few months. Summarizing the performance of the last bull market altcoin after Bitcoin broke through new highs, makes us realize how rapid and concentrated the rally was.
For example:
CHZ: 30x increase in one month from February to March 2021JOE: 60x increase in two weeks in August 2021HOT: 35x increase in two months from February to March 2021
THETA's market capitalization rose from $1 billion to $12 billion in 3 monthsAXS went from $200 million to $10 billion in 5 months, and its FDV peaked at $43 billion
RUNE's market capitalization grew from $200 million to nearly $5 billion in 5 months
AAVE: 6 times increase in one month in January 2021 SUSHI: 6 times increase in one month in January 2021 January 2021,
DOGE: Up almost 10x in one day, when it was already a billion-dollar token
With these examples, we can see the potential of the market in the future. Next, we will focus on the seven major sectors of AI, games, new public chains, Bitcoin ecology, RWA, Depin, oracle track and MeMe.