Bitwise Chief Investment Officer: Altcoin season is coming

Bitwise Chief Investment Officer Matt Hougan shares his thoughts on the start of “altcoin season.” Considering Bitcoin is up hundreds of percent from its lows, wealthy cryptocurrency investors are starting to move some of their Bitcoin wealth into altcoins. Given the relatively small size of many altcoins, it doesn’t take a lot of money to significantly increase the price. Matt Hougan added that the technical infrastructure of altcoins has improved significantly from past cycles, and things like the Dencun upgrade on Ethereum and the rise of Layer 2 are real technological advancements that make public blockchains very popular. Currency uses are more interesting than in the past. Additionally, altcoin seasons have historically limited Bitcoin’s rise as marginal capital moves away from Bitcoin and into other areas of the market. There is an important difference between this bull market and previous bull markets. This bull market will be a bull market for all currencies.