Don't think that a 50% slump means it's over; who knows, a year later, those "dark horses" you have in full position might not even be able to produce a candlestick.

Having been in this industry for nearly ten years, today I need to lay it out for everyone - let's take a look at how miserable the clone projects are now from the perspectives of cyclical iron laws and power reshuffling.

Let's talk about the cycle. There are still more than 880 days until the next Bitcoin halving. Those in the know understand that this period is indeed the "darkest moment" in the cycle. Looking back at the market phases of 2013, 2017, and 2021, this stage was indeed the bottom of the bear market. But this time? It's completely different — mainstream coins at least have ETF support, so they won't drop too much; as for altcoins? There’s no telling where the bottom is, it’s just an invisible deep pit.

What’s even more deadly is that the "power to speak" in the circle has long been reshuffled over the past few years. In the past, the project parties were the big shots, making all the decisions regarding financing, getting listed, and pumping the market, although they sometimes deceived people, at least they would still "put on a show"; later, market makers rose to power, and their control techniques became more and more sophisticated; now, well, the platforms have directly taken control of the lifelines of the primary and secondary markets, turning project parties into mere workers—without funds to support the market, and even if they want to pump, they can’t do it, after all, words don’t count, why bother to suffer?

Recently, I heard an even more heartbreaking piece of news, that many knockoffs...