As bitcoin roars back into a bull market, traders are eagerly awaiting “alt-season,” a parabolic jump in altcoins that historically follows bitcoin’s rise.
But they’re going to be disappointed. There won’t be an alt season in this hype cycle. Not like 2017, anyway.
Altcoins like XRP, EOS, XLM, BSV and many others in the top 20 will drastically underperform bitcoin in this bull run unless they make a major real-world breakthrough. And hundreds of altcoins will disappear completely. Here’s why:
The narrative has switched to “bitcoin, not blockchain.” Incoming institutional money won’t buy alts. None of the 2017 alt season catalysts exist this time around.Traders will use the growing bitcoin derivatives market to find huge gains instead of alts. Read More at CCN...