Cobie: Whether Bitcoin's returns are diminishing remains uncertain, but the difficulty and risk of trading altcoins will continue to rise.
ChainCatcher News, crypto KOL Cobie tweeted that it is still uncertain whether bitcoin will continue to provide diminishing returns, but trading altcoins (on average) will become increasingly difficult and dangerous, which is an irreversible trend. The reasons include:
Fierce and increasingly sophisticated competition among buyers, while conviction is decreasing;
Mainly traded through perpetual contracts and leverage;
Market caps are by default overestimated and heavily diluted;
At launch, FDV captures all optimistic sentiment, ignoring price and valuation;
Excessive price discovery in pre-market trading leads to insecurity.
In 2017, buyers bought spot and held for weeks or months, as conviction was strong and they increased positions during the rally, with early low valuations being effective. In 2025, buyers purchase via perpetual contracts, do not check valuations, and sell when profits turn negative or are forcibly liquidated. However, altcoins are still the best field for smart people to achieve high returns, where skill expression and asset selection are more important, and patience to enter the market "early" is more rewarded in liquid markets.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Animoca Brands plans to pursue a Nasdaq listing through a reverse takeover
Data: An address suffered a poisoning attack resulting in a loss of 1.256 million USDT
BNB Chain confirms that on-chain projects were not affected by the Balance vulnerability
