#ETH# Based on everyone's understanding, what stage do you think the crypto world is in now?

A classic three-wave market in a bull market, currently Bitcoin and Ethereum have completed two waves, while altcoins have only completed one wave officially. This means that the bull market has officially started after the first wave, and many low-quality projects have not even started the first wave. They will only have one or two major market movements in a bull market.
The relationship between Bitcoin and altcoins, the third major bull market in 2017, Bitcoin and altcoin Bitcoin peaked in December, Ethereum and altcoin Ethereum peaked a month later. Many altcoins, including the famous 94 crash, peaked in early September.
The fourth bull market of 2021, Bitcoin and Ethereum both peaked in November, with a few altcoins peaking in February, and many peaking in May before crashing.
The second bull market in 2013, Bitcoin peaked in November. At that time, there was no Ethereum, only Bitcoin and altcoin. Among the altcoins back then, only Ripple and Litecoin are still alive today.
Regarding the issue of mid-term correction, in the 2013 bull market, there was a crash of 80% in a few days due to being too crazy, and the altcoins must have also gone back to grandma's house.
During the bull market in 2017, Bitcoin experienced several pullbacks, with the largest being only 40%. The major crash occurred during the 94 altcoins, where a 90% decline was quite normal. Ethereum's pullback at that time was not severe either. In the second half of 2016, Ethereum experienced a deep decline, and altcoins were even worse, taking from the peak in June to bottoming out in December.
In 2021, despite the fact that Bitcoin and Ethereum had a small retracement in September 2020, which was not sustained for long, altcoins underwent adjustments for several months, with significant corrections, all while Bitcoin continued to hit new highs. Then there was the 519 crash, which, although only retraced for over 2 months, altcoins experienced a deep correction again, with Bitcoin more than halving.
2025 bull market, with ETH's shallow decline in mid-2024, altcoins have already experienced a major pullback. History has never changed, the second wave will surge in the fourth quarter, and then altcoins will undergo a deep adjustment, with many of them reaching their peak again.
The first bull market, Bitcoin surged in one year, from birth to peak for two and a half years, the second bull market from the bottom to the peak for 2 years and 1 month, the third bull market bottomed and peaked for two years and 11 months, the fourth bull market is the same as the third, the fifth bull market, this time, how long do you think it will last?
I need fans, you need references. It's better to follow than to guess blindly.