Recently, there have been quite a few discussions in the community, all wondering if the altcoin season has arrived. Honestly, do you want to make money through altcoins? Technically, it's possible, but the risks are very real.

The recent market movements clearly illustrate the point. Many small coins have experienced crazy surges, only to turn around and plummet in a straight line. Some traders make a lot of money, while others get trapped badly. Why does this happen? Simply put, altcoins lack solid value backing, and the trading logic is quite straightforward — it’s essentially a gamble between retail investors and the whales.

The game rules are roughly like this: the whales need to first create a profit-making effect, attracting retail investors with price increases to buy in. Seeing the upward trend on the K-line, retail investors think they should jump in to share the gains, not realizing they are already on the edge of a cliff. Once the whales achieve their target, they start dumping. A chain reaction of sharp declines begins immediately, leaving no chance to escape — this is why so many beginners get trapped at high points, holding onto the obsession that "they will eventually break free."

The truth is: mainstream coins have a bottom line protection even with volatile swings, but small coins are the real "harvesters." So, playing with altcoins is okay, but be sure to exercise restraint. Small investments for experience are fine, but heavy betting is essentially going against the whales, and the final losers are often retail investors like you and me. Remembering this can help you avoid many pitfalls.