Altcoin Season: A Different Perspective
Introduction
During every market cycle in which BTC’s price paints a new all-time high and breaks into uncharted territory, analysts start to speculate about the upcoming run for altcoins, which is named altseason. With bitcoin already trading above $100,000 for the first time ever, many industry experts have used the opportunity in previous months to outline their respective reasons for when such an altseason will occur.
No Altseason?
A popular analyst with nearly 120,000 followers on X recently indicated that there might not be such a period during the ongoing cycle. In a tweet, the analyst stated, “Unpopular opinion: There won’t be an alt season!” The analyst’s reasons are mostly based on the enormous amount of altcoins currently in circulation.
The Changing Market Landscape
According to the analyst, the market has changed significantly since the previous altseasons. Today, there are over 36.4 million altcoins, compared to fewer than 3,000 altcoins during the 2017-2018 alt season and even fewer than 500 altcoins in 2013-2014. The analyst believes that with such a massive supply, it is unlikely that all altcoins will experience a significant increase in value.
A Different Altseason Instead?
CryptoQuant’s CEO recently shared a similar opinion. He believes that there will be an altseason this cycle, but it will be entirely different. The CEO notes that there is no viable way that all those millions of alts will explode in value. Instead, he believes that only a handful of alternative coins will chart impressive gains and will lead the pack.
Recent Trends
This perspective is supported by recent trends in the market. Assets like XRP, XLM, HBAR, SOL, ADA, and DOGE have posted significant increases within triple-digit territory, and some have broken their previous all-time highs while others have come inches away. Interestingly, many of the projects behind these altcoins are based or affiliated with the US, which is also quite logical given the positive changes in the local regulatory landscape after Trump’s presidential victory.
Conclusion
In conclusion, the concept of altseason may be changing. With the massive supply of altcoins currently in circulation, it is unlikely that all altcoins will experience a significant increase in value. Instead, it is possible that only a handful of alternative coins will chart impressive gains and will lead the pack. This perspective is supported by recent trends in the market and the changing market landscape.
FAQs
Q: What is altseason?
A: Altseason refers to a period in which the prices of alternative cryptocurrencies (altcoins) experience a significant increase in value.
Q: Why is the analyst predicting no altseason?
A: The analyst is predicting no altseason because of the massive supply of altcoins currently in circulation. With over 36.4 million altcoins, it is unlikely that all altcoins will experience a significant increase in value.
Q: What is the alternative perspective?
A: The alternative perspective is that there will be an altseason, but it will be entirely different. Only a handful of alternative coins will chart impressive gains and will lead the pack.
Q: Which altcoins have posted significant increases in value?
A: Assets like XRP, XLM, HBAR, SOL, ADA, and DOGE have posted significant increases within triple-digit territory, and some have broken their previous all-time highs while others have come inches away.
Q: Why are the projects behind these altcoins based or affiliated with the US?
A: The projects behind these altcoins are based or affiliated with the US because of the positive changes in the local regulatory landscape after Trump’s presidential victory.
