Are altcoin seasons expected to continue? Willy Woo knows the answer

The analyst is still skeptical: he admits that altcoin seasons will continue, much to crypto traders’ delight. However, Woo also warns the intensity of returns will decline as the market grows more mature.

“This cycle has been markedly different from others. This is the 3rd cycle since retail started getting burned at scale with alts which burst onto the mainstream in 2017. 2020–21 was DeFi and NFT, […]. This 3rd alt cycle is about meme coins which is a piss-take on the crypto space. No pretence that it’s trying to be disruptive world changing tech, just an honest bubble casino,” the analyst noted.

According to Woo, the dominance chart looks like “the COVID crash in slow mo,” and with time, the growth of altcoins will weaken.

“Trade it sure, if you want to play… 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. But you already know that,” Woo concluded.

Previously, analysts at Hashkey Capital stated it wouldn’t be enough for Bitcoin to break its historical maximum to start an altcoin season, suggesting BTC would have to surpass $80,000.