Odaily News Willy Woo, a cryptocurrency analyst, wrote on X yesterday: "I haven't talked about altcoins for several years. After the 'shit rolls downhill chart' depicted the performance of 10,000 altcoins, I gave up interest in them. But someone asked me specifically, and here's what I think about the market value of altcoins: This cycle is significantly different from other cycles. This is the third cycle in which retail investors have begun to lose money on a large scale since altcoins entered the mainstream in 2017. 2020-21 was the 'innovation' of DeFi and NFT, and a large number of retail investors lost money again. The third altcoin cycle is about Meme coins, which is a mockery of the cryptocurrency field. It does not pretend to be a technology that subverts the world, but is just an honest bubble casino. So I think retail investors may understand. It usually takes three tries to learn something. Its dominance has not yet fully returned to the long-term equilibrium, but no one knows what the long-term equilibrium will be. I'm not saying there won't be an altcoin season. Of course, as investors chase higher returns on the risk curve, BTC Small and mid-cap altcoins will rally after a surge. This is a normal part of the market, we’ve seen this with stocks. It’s just that each cycle, starting with the 2017 altcoin bubble, altcoin seasons have been weaker. Also remember that altcoin market cap is the sum of all new winners… losers are not counted in the market cap. Sure trade them if you want to get in on the action… but never hold them unless you know the inside story because altcoins are an insider’s game and just like a casino, the house wins in the end. But you already knew that.”