標題：流行的市場分析師Pentoshi表示，上一個週期的天文替代幣可能不會再次發生

Pseudonys Trader Pentoshi在社交媒體平台上告訴他的858600個關注者X，Altcoins現在具有更少的打印相同水平的潛力

Popular market analyst known for his timely crypto calls says that the astronomical altcoin gains of the last cycle are probably never going to happen again.

流行的市場分析師以及時的加密呼籲而聞名，說上一個週期的天文山幣收益可能再也不會發生。

Pseudonymous trader Pentoshi tells his 858,600 followers on the social media platform X that altcoins now have less potential to print the same level of gains seen in 2017-2021 because the market has significantly expanded and the total market cap started at a much higher level this cycle.

化名交易者Pentoshi在社交媒體平台上告訴他的858,600個關注者，Altcoins現在具有打印2017 - 2021年相同水平的收益水平的潛力，因為市場已經大大擴大，並且總市值在本週期的更高水平開始。

“Well some updated thoughts. I think for alts, we will never see a run like 2017-2021 again. But I also said that previous to this run. The space is just way too big now, with hundreds of millions of people, whereas there, we really did start at 0 for DeFi (decentralized finance) and in 2017 all alts combined were $13 billion. We just started at such a high floor.”

“一些更新的想法。我認為對於Alts，我們將再也不會看到像2017 - 2021年這樣的跑步。但是我也說過這次跑步之前。現在，這個空間太大了，有數億人，而那裡的空間確實從0開始，從0開始，而Defi（分散的財務）在2017年，所有Alts的總和為130億美元。我們剛剛從如此高的地板開始。”

He also says that the robotics and artificial intelligence (AI) sector may start dominating investor interest at the expense of alts.

他還說，機器人技術和人工智能（AI）行業可能會以犧牲Alts為代價開始主導投資者的利益。

“I also believe the next bubble won’t even be in crypto. It’s likely going to be in robotics/AI. 50% of the global GDP is labor, a $50 trillion annual market… These fields are moving at lightning speed and likely to have the most allocations. Of course, there will be big opportunities here, a lot of that will end up back in utility too. Memecoins I think are too extractive, and while people call utility a meme, they have stood the test of time.”

“我也相信下一個泡沫甚至都不會進入加密貨幣。它可能會使用機器人/AI。全球GDP的50％是勞動力，這是一個50萬億美元的年度市場……這些領域以雷電速度移動，並且可能具有最多的分配。當然，這裡會有很大的機會，其中很多也將回到公用事業中。我認為Memecoins太提取了，當人們稱實用性為模因時，他們已經經受了時間的考驗。”

However, the veteran trader says there still remains the potential this cycle for the total crypto market cap to surge to around $4.4 trillion. The total crypto market cap is $2.97 trillion at time of writing, down 8.9% in the last 24 hours.

但是，這位經驗豐富的交易員說，仍然有潛力的加密市值飆升至4.4萬億美元。寫作時的加密市值為2.9.7萬億美元，在過去24小時內下降了8.9％。

“It’s just a maturing market, and for most of us. We got in pretty damn early and got to capture immense upside. It just isn’t realistic to expect the cycles of the past because eventually returns would be smoothed out. It couldn’t last forever. It takes far more now to capitalise than before.

“對於我們大多數人來說，這只是一個成熟的市場。我們很早就該死，並捕獲了巨大的上升空間。期望過去的周期是不現實的，因為最終返回將得到平滑。它不能永遠持續。現在比以前要花費更多的資本。

I never expected anything wild this cycle, my expectations for alts were maybe 2x the previous highs and for total [crypto market cap] to reach $4.4 trillion or so, which was a pretty conservative estimate. We may still even get there yet. But I think we need to set realistic expectations for alts in general and the market.”

我從來沒有想到這個週期有什麼瘋狂的，我對Alts的期望可能是以前的高點2倍，而總（加密市值）達到4.4萬億美元左右，這是一個非常保守的估計。我們甚至可能還能到達那裡。但是我認為我們需要對總體和市場設定現實的期望。”