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As Bitcoin’s dominance hovers close to 60%, crypto analyst Willy Woo warns altcoin seasons could lose their explosive edge. Woo suggests future cycles may see weaker returns, shifting the landscape for traders seeking high-risk gains beyond Bitcoin.
Market Maturity Predicted to Dull Altcoin Gains
While crypto altcoin seasons are certain to continue, satisfying the appetite of speculative crypto bettors, a crypto analyst predicts that gains will become less intense as the industry develops.
According to an Oct. 26 X post by an anonymous crypto trader named Willy Woo, "Alt seasons will be weaker each cycle on from the great 2017 alt bubble." Woo was referring to the year 2017 when the "boom" of initial coin offerings (ICOs) started, where cryptocurrencies were sold to raise funding for projects.
Alt Seasons to Persist but with Limited Intensity
Willy Woo made it clear that he's not denying the existence of alt seasons. He mentioned that mid-cap and low-cap cryptocurrencies will "absolutely" experience price spikes following Bitcoin's, as "investors chase returns higher up on the risk curve."
In order to begin shifting their wealth into alternative cryptocurrencies, traders often wait for indications that Bitcoin's dominance has reached a peak.
Bitcoin’s Market Share Reaches Critical Threshold
Data from TradingView shows that Bitcoin has a market share of 59.31%; this is a hair lower than some analysts have predicted, who think that altcoins will see an influx of cash at 60%.
"Memecoins" are the focus of the current alt cycle, according to Willy Woo, who called them a "piss-take on the crypto space."
Industry Leaders Clash on Bull Run Predictions
The remarks go against what Quantum Economics CEO Mati Greenspan said in a recent interview with Cointelegraph, in which he predicted that "the upcoming bull run will be all about Bitcoin and its layer 2s."
"No pretence that it’s trying to be disruptive world-changing tech, just an honest bubble casino," Willy Woo said, warning his 1.1 million followers not to take long bets on altcoins.
Only the Winners Reflect in Alt Market Cap
"Don’t ever hodl them unless you’re so knowledgeable that you’re an effective insider because alts are an insiders game just like the casino where the house will eventually win."
The alt market cap, he said, only shows the "winners," not the tokens that failed.
"Also remember alt market cap is like the cricket bat that has had 10 new handles and 10 new blades, it’s the sum of all the new winners… losers don’t count to the market cap," Willy Woo said.
Debate Continues Over Altseason's Arrival Conditions
When will the market eventually announce that altseason has arrived? Many crypto analysts have been wondering.
Some observers argue that Bitcoin's current price of $73,679, which it achieved in March, isn't enough to start altseason this time, despite the fact that traders frequently feel that it must recapture its all-time high.
"Altcoin season is more probable when Bitcoin’s price surpasses $80,000," according to analysts at crypto investment firm Hashkey Capital.
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