Willy Woo: Altcoins are an insider's game, and the current cycle is dominated by memes

Odaily Planet Daily News Cryptocurrency analyst Willy Woo said in a post on X yesterday: "I haven’t talked about shitcoins for several years. I lost interest in them after depicting the performance of 10,000 shitcoins in the ‘shit rolls downhill chart.’ But someone specifically asked me, and here’s my opinion on shitcoin Market Cap: This cycle is obviously different from other cycles. This is the third cycle since 2017 when altcoins entered the mainstream and retail investors began to suffer massive losses. The year 2020-21 is the ‘innovation’ of Decentralized Finance and Non-fungible Tokens, and a large number of retail investors have once again suffered losses. The third AltCoin cycle is about MEME coin, which is a satire on the Crypto Assets field. It doesn’t pretend to be a technology that will change the world, it’s just an honest bubble casino. So I think retail investors may understand. Usually, it takes three tries to learn something. Its dominant position has not fully returned to long-term equilibrium, but no one knows what 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 after BTC big pump, small and medium-sized Altcoins will rise. This is a normal part of the market, we’ve seen it in stocks. It’s just that since the AltCoin bubble of 2017, each AltCoin season has become weaker. Also remember, AltCoinMarket Cap is the sum of all the new winners… The losers are not included in the Market Cap. Of course you can trade if you want to participate… But never hold them unless you know enough about the internal situation, because AltCoins are a game for insiders, just like a casino, the dealer will ultimately win. But now you know.