The current crypto world is completely a paradise and a hell compared to before 2020. Every bull run from 2017 to 2022 saw various coins, big and small, experiencing a chaotic dance, with random rises of several thousand percent or even tens of thousands percent. If lucky, one could close their eyes, buy a few hundred dollars worth, and wake up to potentially earn ten to twenty thousand... Such a bull run has been thoroughly disrupted by the gameplay of 2024. Last year, only BTC was soaring, while mainstream tokens like Ether and Sol also couldn't escape the fate of market capitalization shrinkage.

It is now July, and more than half of the year has passed. Altcoins have been falling since last year's small rise, with most coins dropping to historic lows. Some issuers have directly sold off their holdings at rock-bottom prices and fled. Exchanges also anticipated significant changes in the market in the second half of last year, changing strategies and crazily issuing various fake concept junk coins, with one new coin released almost every day, opening at high prices only to drop continuously until the coins in hand are sold out. They then start fresh with new coins, using old methods to continue harvesting retail investors. By early 2025, various retail investors, large and small, will wake up from their losses, with many withdrawing from the market, and nearly 100,000 people leaving a certain exchange in a single day. It is at this point that the frenzy of issuing new coins starts to moderate.

I think that by 2025, exchanges will feel an unprecedented survival crisis, as the crypto market has lost its source of fresh air, while simultaneously accelerating the loss of old air. BTC is being manipulated by large capital, and the major exchanges that once held control have now lost their voice, only possessing the same participation rights as ordinary retail investors. Nowadays, exchanges surrounded by difficulties face numerous crises, and the fantasy of retail investors getting rich overnight has completely shattered. The biggest dream in the crypto world is getting rich overnight, and this spirit of excitement, which weighs even more than BTC, has already lost its potency. #BTC # 币圈