Veteran on-chain analyst Willy Woo says altcoins will become less and less explosive over time as the crypto market matures.
Woo tells his 1.1 million followers on social media platform since 2017.
Rather than focusing on decentralized finance (DeFi) or some sort of technological innovation, Woo says the current altcoin hype is mostly focused on memes, which he says is a poor view of the crypto space.
Said the analyst,
“I’m not saying there won’t be alternate seasons. There will certainly be mid and low cap pump echo fractals following the BTC pump as investors seek returns higher on the risk curve. This is a normal part of markets and we see it in stocks. Only the alternate seasons will be weaker in each cycle from the great alternate bubble of 2017.
Also remember that alternative market cap is like the cricket bat that got 10 new shafts and 10 new blades, it’s the sum of all the new winners…losers don’t count in market cap.
Trade it of course, if you want to play…don’t HODL them (wait for life) unless you are so knowledgeable that you are an effective insider, because alts are an insider’s game, just like casino where the house will do it. ultimately win. But you already know that.
At the time of writing, Bitcoin (BTC) Dominance (BTC.D), which compares Bitcoin’s market cap to that of all other crypto assets, is valued at 59.38%, a three-year high years and a half.
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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should conduct due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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