Analyst: This recent crash may be a "cycle-ending event," and many altcoin projects may never recover from this failure.

On October 11th, a researcher from DeFiance Capital named Kyle posted on social media, stating that in view of the current market sentiment, the last time such a situation occurred was during the FTX or Celsius collapse. This recent sharp decline is basically a "event at the end of a cycle," yet this time BTC and ETH surprisingly showed great strength. The evolution of the crypto industry is truly astonishing, but altcoins are clearly repeating the same tragic fate—even though I have repeatedly issued warnings in the past few months, I never imagined it would be this brutal. In any case, currently is not the "best" time to buy the dip, but it is undoubtedly the "should" time to buy the dip. Extreme panic has already been released, and the market is in the process of building a bottom, although there may still be room for further decline. Looking ahead, we are definitely closer to the bottom than to the top. Asset selection is of great importance at the moment, as many projects may never be able to recover.