A crypto specialist predicts that altcoin seasons will continue, delighting speculative crypto investors, but gains will slow as the sector develops.
In an Oct. 26 X post, pseudonymous crypto trader Willy Woo predicted that “alt seasons will be weaker each cycle on from the great 2017 alt bubble,” referring to the “boom” of initial coin offers (ICOs).
Willy Woo said mid-cap and low-cap cryptocurrencies would “certainly” be “pumping” following Bitcoin's success.
Some experts anticipate money will start flowing into altcoins around 60%, while TradingView data shows Bitcoin's dominance at 59.31%.
Willy Woo called the alt cycle “about memecoins,” a “piss-take on the crypto space.”
The statements contradict those of Quantum Economics CEO Mati Greenspan, who told Cointelegraph that the forthcoming bull run would focus on Bitcoin and layer 2s.
Willy Woo advised his 1.1 million followers to avoid cryptocurrency long positions since there is “no pretence that it’s trying to be disruptive world-changing tech, just an honest bubble casino”:
“Don't hodl them unless you're an effective insider because alts are an insiders game like the casino where the house always wins.”
He cautioned that alt market cap shows “winners,” not unsuccessful coins.
Keep in mind that alt market cap is the aggregate of all new winners, like a cricket bat with 10 new handles and blades. Willy Woo said losers don't contribute to market cap.
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