Willy Woo: The current cycle is a "Meme bubble casino", recommends trading altcoins instead of holding them

BlockBeats news, on October 27, the famous cryptocurrency analyst Willy Woo posted on social media: I haven't talked about altcoins for many years. After drawing a "shit rolling downhill chart" of the performance of 10,000 altcoins, I gave up interest in them. This cycle is significantly different from other cycles. The previous two cycles were "innovations" with the themes of DeFi and NFT from 2020 to 2021, and now it is in the third cycle with the theme of Meme coins. This is the cryptocurrency world expressing dissatisfaction. Encryption is no longer trying to pretend to be a disruptive technology that changes the world, but just an honest bubble casino. This may mean that retail investors are finally beginning to understand the risks. After all, people usually need three lessons to really learn from experience.

Bitcoin's dominance is looking for a long-term equilibrium. Although small and medium-sized altcoins will still rise after the rise in Bitcoin prices, the intensity of this "altcoin season" may weaken from cycle to cycle. There is a bias in the calculation of altcoin market cap because this metric only reflects the sum of successful projects, while failed projects are not counted. If you want to participate in the altcoin market, always trade them and never hold them unless you are knowledgeable or you are a valid insider, because altcoins are an insider game, just like a casino, the house will win in the end. Now you should know this.