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

BlockBeats news, on October 11, DeFiance Capital researcher Kyle posted on social media that based on the current market sentiment, the last time such a situation occurred was during the collapse of FTX or Celsius. This big dump can basically be considered a “cycle-ending event”, but this time BTC and ETH are surprisingly stable. The evolution of the encryption industry complex is indeed astonishing, but alts are clearly repeating the same tragedy — despite my repeated warnings over the past few months, I never expected it to be this severe. In summary, it is not the “best” time to buy the dip, but it is definitely a moment when one “should” buy the dip. Extreme panic has been released, and the market is building a bottom, although there may still be some dip space. Looking at it from a distance, we are certainly closer to the bottom than to the top. Current asset selection is crucial, as many projects may never recover their vitality.