Only in the secondary market can SEI, TIA, WLD, OM, inscription series, etc., which have more than 10 times of dark horses, come out. They are still mainly new, new coins, and new narratives.
This wave since August is different. First of all, the funds are more differentiated, and the increase of BTC is relatively small.
So there are not so many dark horses in the altcoin market. Only SUI, XRP, PUNT, ACT, and some old DeFi have performed several times, but is this considered a altcoin market?
From a macro perspective, various funds flow into BTC through compliant channels, which is the trend of the future.
So these new institutions generally do not touch altcoins unless they are involved in projects. In this way, there is not much fresh blood flowing into the altcoin market, and it is still mainly retail investors and hot money in the circle.
I think the so-called "altcoin season" is not necessarily a fixed time point, but a phased market. We can't always use the market in 2017 and 2021 to understand the current and future altcoin market. The future altcoin market may be like March or December 2024, and there may be some dark horse projects, but the size and explosiveness of the overall market still depend on the increase in BTC.
If BTC falls to around 70,000 this time, grinds for half a year, and then rises to 180,000, then I believe the altcoin market will replicate the market in March 2024, with more dark horse projects, and retail investors can also make more money.
Therefore, it doesn’t matter what exactly is the "altcoin season". The most important thing is how many opportunities you can seize in each wave of the market and how much meat you can eat.
