Recently, I've seen discussions about whether there will be another altcoin bull run. Pessimists believe that there won't be one in the future, and that altcoins have already entered a bear market before the bull market has even begun.

In fact, the altcoin bull market is bound to come, because the most attractive thing in the crypto world is the wealth effect, and the speculative demand has always been there.
It will be different from the previous bull market, because there are too many coins now, and N many coins are listed every day, which is not conducive to speculation due to the dispersion of funds.
So it's difficult to reproduce the previous overall bull market, and future funds will be concentrated on leading players in the race track and new narratives, as well as high-potential projects with low market cap.
The myth that you can make money by buying anything in a bull market has come to an end. Be careful when investing in altcoins.