/biz/ - Business & Finance

I believe that the previous altcoin season was a result of people getting rich on bitcoin, and then their friends hearing about it and getting jealous, their friends feeling they missed the boat and wanting to buy into bitcoin and then buying alts. ( “Cheap alts”) Right, but they were never cheap when the speculative bubble was happening. So this time because a lot of people missed this 5x move from the bottom, and a lot of retail wasn’t in when that happened, then we have a lot less bragging to friends, so we have a lot less friends googling looking for the next alternate thing..

And I think you tend to get altcoin season after you have a bull run in bitcoin. But since so many missed this bull run, it’s kind of just perhaps getting started now, then maybe a year after its run, people look for alternatives enough to have a run on the altcoins. And I don’t think it will be the same altcoins, I think it will be new altcoins. Why? Because everyone who bought and got rekt is sell pressure now, because they bought higher. There’s a lot of people holding bags from higher who are happy to get out at break even after sitting through all the pain. But when you get into a new coin, that doesn’t have a bunch of bag holders from higher, then it’s easier price discovery with less people pushing the price down with their heavy bags.

Another alt season doesn’t have to happen. If google searches don’t pick up, if retail doesn’t pick up, then I don’t think that larger entities are trying to get into shitcoins. And that’s the reason that bitcoin has out performed them all recently (nearly all of them). So alt season is not a guarantee, and I think maybe a year and a half from now if we get one…

>>15069357

>>15069399
Btc maximalist spotted. Your logic as to why alt season won't happen is flippen laughable. Its like you plopped your self down in 1980 and said these tech stocks will go no where. "Im all about boomer IBM...!!! Silly Apple. Microsofts going no where..."

>>15070078
Yes I'm a bitcoin maximalist, cry harder thinking that's an insult when I'm fucking rich and about to get richer. You are like one of the shitcoiners who entered the space in 2017 after hearing me talk about my profits, then did some retard reddit tier research and bought into narratives that could only thrive in a delusional malinvestment environment that saw every scam moon. The bubble on your malinvestment inspired narratives has popped and will continue to pop, and I look forward to reading your cope posts.

>>15069399
Based Richard. I tend to agree with this opinion although I think it should be noted that the previous alt season was heavily influenced by the influx of ERC20 hypecoins, and recapturing the kind of blind optimism those ICO based projects benefited from will probably be an uphill battle, especially after so many of them have flamed out spectacularly.