The reason why the altcoin boom is yet to come may have to do with the reduction in excess savings among American households. Financial analyst Murad Mahmudov pointed out that the savings accumulated by American households during the epidemic have dropped significantly, which has affected their consumption behavior. While a strong labor market may support consumption, earnings reports from major companies suggest consumers are starting to become more frugal.

This shift in consumer attitudes means U.S. households may be less willing to put money into riskier altcoins. Mahmudov believes that we may only occasionally see some popular currencies rise in the short term, but it will be difficult to form a sustained craze.

In addition, the altcoin market is also facing oversupply issues. As new tokens continue to be issued, the number of altcoins on the market and total market capitalization increase, which can lead to price dispersion and less upward momentum.

Compared to the market in 2017, the market is larger now and requires more capital to drive significant growth. The market was smaller at the time and the creation of new tokens was more difficult, which may be one of the reasons why the altcoin craze was more pronounced at the time. In summary, the decline in U.S. household savings, changes in consumer attitudes, oversupply of altcoins, and the expansion of the market are all key factors that have led to the delay in the current altcoin boom.

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