Altcoin Season Is Not Coming: 3 Reasons Analysts Believe So

Altcoin season is not coming and the analysts have three reasons why that might be the case. In the coming altcoin news below we find out what exactly those are.

Traders are patiently waiting for the alt-season to make a parabolic jump on the scenes but they will be rather disappointed. Analysts believe that there won’t be an alt-season in this cycle at least not as 2017 was. Altcoins such as EOS, XLM, XRP, and BSV will underperform bitcoin in the bull run unless they make a stunning real-world breakthrough. The analysts also believe that some of the altcoins will even completely disappear and here are three reasons why:

The entire narrative is switched to Bitcoin, not to the blockchain technology. The institutional investors don’t buy altcoins, the buy bitcoin. There are no catalysts as those in 2017 and also, traders will use the bitcoin derivatives market.

The narrative around bitcoin is different this time. In the last cycle, the leading cryptocurrency and the tech and banking industries kept their distance from bitcoin. They used the blockchain mantra. However, more venture capital money flows into blockchain projects this time and at the same time bitcoin is plagued by scaling debates. Last time, investors were looking for faster blockchains such as EOS, Tron and Stellar but this time is different. Large companies are not really interested in the blockchain now. Banks and other tech companies are now contributing to the bitcoin ecosystem.

Last time around, Ethereum also emerged and launched hundreds of blockchain projects. Initial Coin offerings exploded tons of money was poured on the market. Now, ICOs seem to be dead and venture capital companies are now more selective but also regulators are watching more closely in order to improve the quality of the projects. Facebook, Twitter, and Google also hyped up altcoin scams in 2017 but now they seem to have stricter advertising conditions.

The altcoin season is not coming even though the traders expected it, but this does not, of course, mean that all of the altcoins will go silent. There is plenty of money poured in projects such as Binance Coin and Chainlink. Also as noted in the latest cryptocurrency news, large-cap altcoins such as XLM, EOS, XRP will have to make a huge breakthrough in the following months.