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Famous crypto analyst Willy Woo has stated that altcoin seasons will continue, but the intensity of the returns will decrease. Woo predicted in a post he made in October that alt seasons will be weaker in each cycle since the first major altcoin rally in 2017. Woo, who stated that interest in memecoins in particular has increased, stated that this is a kind of “mockery” towards the crypto space.
Woo said that when the Bitcoin price increases, medium and small-cap altcoins may see increases again as investors seek returns from risky investments, but these increases will be shorter and less effective. According to TradingView data, Bitcoin’s market dominance is at 59.31%, and many analysts predict that capital flows may shift to altcoins after this rate reaches 60%.
Woo stated that taking long-term positions in the altcoin market is risky, and that only people with deep knowledge should consider such investments. He stated that the altcoin market is a “casino”-like space where “winners” contribute to the market value, while losers are not included in this value.
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These views contradict Quantum Economics founder Mati Greenspan’s claims that the upcoming bull market will be focused solely on Bitcoin and its layer 2 solutions. On the other hand, Hashkey Capital analysts argue that Bitcoin’s price must exceed the $80,000 level for the alt season to occur.
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