“There’s always an Altcoin season,” said Arthur Hayes
While many crypto traders are waiting for the next altcoin season to begin, BitMEX co-founder Arthur Hayes says it's already underway all the time.
“Always an altcoin season happens… and [if you’re] They always say there is no altcoin season. [it’s] Because you've gone up because you don't own it,” Hayes said in a podcast interview posted on YouTube on Thursday.
According to Hayes, many traders are still expecting the altcoin season to play out in the same way as in previous years, repeating the same cryptocurrencies and narratives. “You wanted it to be like the last altcoin season, because then you felt like you knew what to do,” Hayes said.
Hayes warns that traders need to “fix” and not look at the past
“Oh, I have to buy these things because that's what was pushed last season,” he added.
Hayes said that instead of relying on history, crypto traders should rethink their approach and pay attention to what's new in the market. “This is a new season, something new,” he emphasized.
Hyes HyperLiquid (HYPE) called it the “best story” of this crypto cycle so far, noting that it started at two or three dollars “before tearing up to $60.”
Before earning nearly $300 earlier this year, He cited Solana (SOL), which has downgraded most of its earnings to “seven bucks” by 2022.
“Again, it was altcoin season. You just didn't participate,” he said.
However, not everyone agrees with Hayes. Maen Ftoui, CEO of CoinQuant, recently told Cointelegraph that older cryptocurrencies with exchange-traded funds (ETFs) or ETFs expected to acquire them will soak up much of the capital deployed in the next altcoin era.
The industry is debating what the next altcoin season will look like
Many in the industry have different views on how and when the next altcoin season will unfold.
Related: Bitwise exec says 2026 will be crypto's true bull year; Here's why
Some traders are still waiting for a traditional cycle, starting with Bitcoin (BTC) before capital moves to Ether (ETH) and then to smaller altcoins before reaching new highs.
Meanwhile, Bitfinex analysts say altcoins are unlikely to see a broad and large-scale rally until ETFs that provide exposure beyond the major cryptocurrencies are approved in August.
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