Originally published on: October 27, 2024
Are altcoin seasons losing their intensity? According to a crypto analyst, the answer is yes. While alt seasons are likely here to stay, the returns may not be as robust as they once were, especially as the market matures.
In a recent post, crypto trader Willy Woo shared his perspective on the future of altcoin seasons. He mentioned that compared to the alt bubble of 2017, upcoming alt seasons may not be as strong. However, he clarified that there will still be opportunities for mid-cap and low-cap cryptocurrencies to surge as investors seek higher returns.
Traditionally, traders look for signs that Bitcoin dominance has peaked as an indication to shift their focus to altcoins. Currently, Bitcoin’s dominance stands at 59.31%, hinting at a possible flow of capital into altcoins in the near future.
Woo highlighted that the current alt cycle seems to revolve around meme coins, which he jokingly referred to as a “piss-take on the crypto space.” Despite this humor, he cautioned his followers against long positions on altcoins, pointing out that the market cap reflects winners, not failed tokens.
While some analysts believe that Bitcoin reclaiming its all-time high is a signal for altseason, others argue that it may require Bitcoin to surpass $80,000 to truly kick off. As the market speculates on the timing of the next altseason, investors are advised to stay informed and vigilant in their trading decisions.
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