Bitwise Chief Investment Officer: Altcoin season is coming
Bitwise's Chief Investment Officer Matt Hougan shared his views on the beginning of the "altcoin season". Considering that Bitcoin has risen by hundreds of percent from its low point, wealthy cryptocurrency investors are starting to move some of their Bitcoin wealth into altcoins. Given that many altcoins have relatively small market capitalizations, they can experience significant price increases with relatively little money.
Hougan added that the technical infrastructure of altcoins has significantly improved compared to past cycles, with things like the DenCun upgrade on Ethereum and the rise of Layer 2 being real technological advancements that make non-monetary use cases for public blockchains more interesting than ever before.
Moreover, historically, the altcoin season has limited the rise of Bitcoin as marginal capital moves from Bitcoin to other areas of the market. This bull market differs in an important way from past ones, as it will be a bull market for all coins.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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