Cobie: While Bitcoin's halving effect remains uncertain, the difficulty and risk of altcoin trading will continue to increase.

BlockBeats News, November 3rd, Crypto KOL Cobie tweeted that it is still uncertain whether Bitcoin will continue to provide diminishing returns, but altcoin trading (on average) will become increasingly difficult and risky, leading to an irreversible trend. Reasons include:

Intense and maturing buyer competition, coupled with decreasing conviction;

Primarily through perpetual contracts and leverage trading;

Market cap overvaluation and severe dilution;

Initial FDV capture of all optimism, disregarding price and valuation;

Excessive pre-market price discovery leading to insecurity.

In 2017, buyers purchased spot and held for weeks/months, adding to their positions with conviction during the uptrend, benefiting from early undervaluation. In 2025, buyers purchased through perpetual contracts, did not check the valuation, and sold when profits turned into losses or in forced liquidations. However, altcoin remains the best return field for smart people, where skill expression and asset selection are more critical, and patience outweighs the "early" entry in a liquid market.