Why did altcoins rise so sharply in the past, while the current projects are getting worse and worse?

Looking back at the frenzied years of the early coin circle, it is not uncommon for altcoins to skyrocket dozens or hundreds of times. And now, as soon as the new project is launched, the market sentiment is cold, and many investors are sighing: "Why did the previous currency rise so sharply, and the current currency is worse than the other?" "There are a number of core factors behind this.

1. Early-stage projects are scarce and market resources are concentrated
In the past, there were relatively few projects listed, the exchange review was strict, and the listing process was more standardized. Every new project needs to be verified by the white paper, endorsed by the team, implemented by the technology, and even have an "inspection period" for the exchange. Therefore, the market has a high degree of recognition of these projects and is willing to participate in the investment. Now, many projects can be launched with only a PPT, the market value is inflated, and there is a lack of real value support, so investors will naturally not pay.

2. Early projects have low market value and high control, and there is a lot of room for growth
In the past, the market value of projects was generally low in the initial stage, with few circulating units and a high degree of control, so the team could slowly pull the market and gradually push up the price, so that the market had the illusion that "rising is consensus", and finally formed a positive cycle. Now, many new projects are valued at more than one billion US dollars as soon as they are launched, and the huge circulation makes it extremely difficult to pull up, and the project party often ships at a high level, causing the price to fall all the way and eventually return to zero.

3. The capital structure has changed, and institutions dominate the market
The main players in the early market are retail investors, and the concentration of funds is low, and the project party can guide retail investors to enter the market through control and marketing, thus forming a huge wave of speculation. Now, institutional investors are gradually entering the market, they pay more attention to risk management and long-term investment, and will not blindly chase the rise and fall like retail investors, which has led to a change in the market volatility pattern, and the market has gradually decreased.

4. Tightened regulation and limited speculation
In the past, there was almost no regulation in the market, and the project party could manipulate the price at will, and even artificially create a skyrocketing market to attract retail investors. Now, countries have tightened their regulation of the crypto market, and many exchanges have also increased their compliance requirements, making it impossible for project parties to operate the market as easily as before, resulting in a decrease in skyrocketing prices.

5. The overall market is maturing and the mentality of retail investors is changing
With the development of the crypto market, the level of awareness of investors has increased, and more and more people have begun to pay attention to the fundamentals of the project, not just speculation and speculation. In addition, retail investors who have experienced multiple bull and bear conversions have become more cautious and are no longer easily driven by FOMO sentiment, and the speculative atmosphere in the market has gradually weakened, which is also an important reason why altcoins are difficult to rise.

Summary: The altcoin market has changed, and so has the market landscape
In the past, the market was more like "savage growth", with few altcoins, strong control, high market FOMO sentiment, and frequent surges. Now, the market has entered a more mature stage, with strengthened regulation, institutional dominance, increased circulation, and rational investors, all of which have combined to make it difficult for altcoins to reproduce the crazy gains of the past.

In the future, if you want to gain a foothold in the crypto market, you must abandon the "fantasy of getting rich" and turn to value investment and long-term layout, otherwise you will only be harvested by the market again and again. #3月行情，你看好哪些板块币种？