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As Cointelegraph reported, analyst James Check said in the Rough Consensus podcast on August 29 that novice traders bought the most speculative assets too early, making the altcoin season difficult to predict.

Check analyzed trader behavior in 2021 and 2024, noting that traders tried to be smart in the market by quickly buying the most hyped meme coins. In the past, meme coins usually soared at the end of a big market rally, but this time the assets rose faster.

Check explained that many crypto natives have learned that the fastest way to make money is to “buy the dumbest coins.” After the approval of a spot Bitcoin ETF on January 10, traders began taking advantage of the sharp rise in Bitcoin prices to invest in meme coins.