比特币（BTC）的优势可能尚未达到顶峰，加密周期可能直到2025年或2026年。

像以太坊这样的比特币和山寨币一直在红色区域中脱落。当市场进入当前加密周期的下一个阶段时，分析师

Bitcoin (BTC) and altcoins like Ethereum (ETH) have been seeing mixed signals, with some days showing gains and others showing losses. As the market enters the next stage of the current crypto cycle, analysts are keeping an eye on key indicators to understand what comes next.

比特币（BTC）和诸如以太坊（ETH）之类的AltCoins一直看到混合信号，有些日子显示出收益，而其他人则显示损失。当市场进入当前加密周期的下一个阶段时，分析师正在关注关键指标，以了解接下来会发生什么。

Here’s a closer look at some of the latest analysis and what it could mean for the market in 2023.

仔细研究了一些最新分析以及2023年对市场的意义。

While certain altcoins, like Solana (SOL) and XRP, have recorded gains so far this year, it’s not considered “altcoin season” until Bitcoin dominance reverses.

尽管某些Altcoins（如Solana（Sol）和XRP）今年迄今已录制了收益，但直到比特币优势逆转之前，它才被视为“ Altcoin季节”。

However, the upcoming months and quarters could be crucial in determining whether the upward trend will continue or if there will be a slowdown. Some experts argue that Bitcoin dominance has not yet peaked and still has room to grow.

但是，接下来的几个月和季度对于确定上升趋势是否会继续或是否会放缓至关重要。一些专家认为，比特币优势尚未达到顶峰，并且仍然有生长的空间。

How Long Will This Crypto Cycle Run?

这个加密周期将运行多长时间？

Raoul Pal, CEO of Real Vision, recently shared his outlook for the next crypto cycle. While he noted that it’s tough to pinpoint precisely, the cycle could last until the end of 2025 or even into 2026.

Real Vision首席执行官Raoul Pal最近分享了他对下一个加密周期的看法。虽然他指出很难确切地确定，但该周期可能持续到2025年底甚至2026年。

However, he adds that the current environment differs from previous cycles, with structural factors like the Federal Reserve’s efforts to reduce inflation and the ongoing credit cycle taking center stage.

但是，他补充说，当前的环境与以前的周期不同，结构性因素，例如美联储为减少通货膨胀而努力的努力以及持续的信贷周期占据了中心地位。

According to Pal’s analysis, the peak of the cycle might be later than expected, especially when you factor in global economic dynamics, including massive investments in the U.S. from countries like Saudi Arabia.

根据PAL的分析，周期的高峰可能要晚于预期，尤其是当您考虑全球经济动态时，包括来自沙特阿拉伯等国家的大量投资。

Despite concerns from the 2021 crash, which saw a peak in early 2022 followed by a bear market, the market could see a late-stage rally, similar to what happened in 2017.

尽管2021年崩溃的担忧是2022年初的峰值，随后是熊市，但市场可能会看到晚期集会，类似于2017年发生的事情。

Meme Coins: A Key Part Of 2025 Investment Plans

模因硬币：2025年投资计划的关键部分

Joe McCann, founder of the crypto investment firm Asymmetric, recently revealed that meme coins, such as Dogecoin (DOGE), played a key role in investment strategies in 2024.

加密投资公司不对称公司的创始人乔·麦肯（Joe McCann）最近透露，模因硬币（例如Dogecoin（Doge））在2024年在投资策略中发挥了关键作用。

Dogecoin outperformed Bitcoin, Ethereum, and Solana in 2024, thanks in part to its connection to Elon Musk and his plans to integrate it into services like X and Starlink.

Dogecoin在2024年优于比特币，以太坊和Solana，部分原因是它与Elon Musk的联系以及他将其集成到X和Starlink等服务中的计划。

For 2025, meme coins like Dogecoin, Bonk, and Pepe are considered important for asset allocation. Their liquidity and appeal make them an important part of investment strategies.

对于2025年，诸如Dogecoin，Bonk和Pepe之类的模因硬币被认为对资产分配很重要。他们的流动性和吸引力使它们成为投资策略的重要组成部分。

A Dogecoin ETF could attract billions in capital, with estimates of up to $30 billion. The rise of ETFs, particularly for Solana and Dogecoin, is expected to continue as asset issuers take advantage of the popularity of these digital assets.

Dogecoin ETF可以吸引数十亿美元的资本，估计高达300亿美元。 ETF的兴起，特别是对于Solana和Dogecoin，随着资产发行人利用这些数字资产的流行，预计将继续进行。