Talk about the current alt season.

1: This round has experienced an alt season at the beginning of 2019 and in mid-December 2019, and there will still be alt seasons of this level in the future, but it will not be the typical alt season seen in the previous bull market. This means that the current alt season is a small-scale rebound of 2-3 times after the altcoins have washed down to new lows, while BTC is stagnating and consolidating at the new peak. Moreover, it is limited to high-quality altcoins that either have a certain consensus, have active application landing data, or involve governance and dividend factors. Particularly high-quality altcoins may be stronger, possibly yielding 3-5 times or even 10 times returns, but it is very challenging to filter and hold onto them as their high volatility is not conducive to defense against declines at the end of a bull market. Regardless, ETH, the leader among altcoins, has passed the ETF, and this round will still see some market fluctuations around 5-6K. There is no need to panic sell now. For other altcoins, it is advisable to only switch to BTC at higher points each time.
2: Previously, a value of 75 on the altcoin sentiment index was the starting point for the alt season, but from this round onwards, it may be that 75 is the peak of the alt season. When the index reaches 75, the alt season is likely coming to an end. Currently, the total number of altcoins is in the tens of millions to billions, with thousands of new coins appearing on-chain daily. Although they are mostly MEME coins that will ultimately go to zero, this form of gambling is relatively simple, fair, and efficient. New retail investors are entering the market and focusing on new coins rather than old secondary coins. Veteran investors can only take over positions on CEX, and new coins typically experience a sharp drop as soon as they are listed. The top 100 coins may still rebound during the alt season, but those ranked lower shouldn't expect to strike gold in the sand.
3: In the future, the crypto market will be no different from the US stock market, with 1% of projects accounting for 90% of the market value and growth. At the end of a bull market, one cannot afford to be complacent; altcoins cannot afford to be complacent. In short, take the profits while you can, even if it doesn't fully meet your expectations, it's best to secure the profits you've made. Retail investors should not expect to earn 10x or more in the crypto market anymore; achieving 3-5x returns in each cycle would be good enough. A return of 3-5x from the end of a bear market to the middle of a bull market is the most stable, safe, and reliable.
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