Author: Climber, Golden Finance
On February 28, Bitcoin rose to $64,000, just one step away from the all-time high of $69,000 in November 2021.
This wave of market movement is quite rapid. Starting from September last year, the price of BTC has been rising from around US$25,000. In six months, BTC has increased by as much as 176%.
When almost everyone is shouting that the bull market in the currency circle has arrived and no longer trap people, a cruel fact is: Binance, which has 1,170 currencies, only has 7 tokens that have broken through the previous high of the last bull market. , accounting for only 0.598%!
Theoretically, if investors buy at the highest point of the last bull market, the proportion of people who have not unwinded their losses will be as high as 99.402%!
After combing through the 1,170 currencies on the Binance platform, the author only found 7 that surpassed the previous high of the last bull market. Strictly speaking, TWT must be excluded, because TWT surpassed it in December 2022, and the current currency price is already relatively high. It fell 57.14%.
From the picture above, we can see that the currencies that broke the previous high generally did not increase much from the previous high. Even TRB, which had a 283.53% increase, was because of the presence of traders behind it. Therefore, theoretically speaking, investors who hold the above currencies but buy at the highest price will have meager returns.
But for investors in the above currencies, they are considered lucky and have at least recovered their capital. Except for TWT, almost all of them cost two years, some even two and a half years.
By analyzing the project types, we can find that the sectors involved in the tokens include oracles, AI, modularity, BTC L2, Internet of Things, and wallets. Many of these projects are popular narrative concepts in this round of market conditions. From this point of view, the investment logic of speculating in the new and not in the old still applies to the currency circle.
summary
This wave of BTC price rise is indeed astonishing, and at this rate it will hit the all-time high just around the corner. However, during the rise of BTC, many investors, including the author, felt that they had not made any money. It seems that the bull market is coming, but not all of it has come.
A crypto practitioner with six years of investment experience in the cryptocurrency industry told the author: The LTC, NEAR, and YGG I bought in the last round are still losing 90%. Bitcoin is indeed very hot, but I feel very cold.
