标题：流行的市场分析师Pentoshi表示，上一个周期的天文替代币可能不会再次发生

Pseudonys Trader Pentoshi在社交媒体平台上告诉他的858600个关注者X，Altcoins现在具有更少的打印相同水平的潜力

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.

流行的市场分析师以及时的加密呼吁而闻名，说上一个周期的天文山币收益可能再也不会发生。

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在社交媒体平台上告诉他的858,600个关注者，Altcoins现在具有打印2017 - 2021年相同水平的收益水平的潜力，因为市场已经大大扩大，并且总市值在本周期的更高水平开始。

“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。我认为对于Alts，我们将再也不会看到像2017 - 2021年这样的跑步。但是我也说过这次跑步之前。现在，这个空间太大了，有数亿人，而那里的空间确实从0开始，从0开始，而Defi（分散的财务）在2017年，所有Alts的总和为130亿美元。我们刚刚从如此高的地板开始。”

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

他还说，机器人技术和人工智能（AI）行业可能会以牺牲Alts为代价开始主导投资者的利益。

“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.”

“我也相信下一个泡沫甚至都不会进入加密货币。它可能会使用机器人/AI。全球GDP的50％是劳动力，这是一个50万亿美元的年度市场……这些领域以雷电速度移动，并且可能具有最多的分配。当然，这里会有很大的机会，其中很多也将回到公用事业中。我认为Memecoins太提取了，当人们称实用性为模因时，他们已经经受了时间的考验。”

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，这位经验丰富的交易员说，仍然有潜力的加密市值飙升至4.4万亿美元。写作时的加密市值为2.9.7万亿美元，在过去24小时内下降了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.

“对于我们大多数人来说，这只是一个成熟的市场。我们很早就该死，并捕获了巨大的上升空间。期望过去的周期是不现实的，因为最终返回将得到平滑。它不能永远持续。现在比以前要花费更多的资本。

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.”

我从来没有想到这个周期有什么疯狂的，我对Alts的期望可能是以前的高点2倍，而总（加密市值）达到4.4万亿美元左右，这是一个非常保守的估计。我们甚至可能还能到达那里。但是我认为我们需要对总体和市场设定现实的期望。”