Crypto markets are not likely to see a period of Altcoin where “all will climb,” because many entrepreneurs are now focusing on narrower trends or only focused on Bitcoin, according to the BitGet’s operating chief, one of the largest crypto exchanges in the world.
“I don’t think there will be an altseason,” Vugar Usi Zade told cointelegraph at the token2049 conference in Singapore on Wednesday.
“The whole idea is that this is an altseason (…) and it will all go up because it is an altseason, ‘we will never see it, and I am strong in that.”
“I don’t think we can see the big bomb, unfortunately, because there’s no logical reason behind it,” he added.
“There are no technology advances yet. We have never seen big things coming out of the projects. Why is the price rising? Just because at this time? No.”
History, history, Altcoins – Crypto tokens other than Bitcoin (Btc) – rallied next to Bitcoin. Altcoin period Refers to the period in which the altcoins exceed Bitcoin due to their greater ratios at risk-to-reward.
Crypto’s “periods” are as Bitcoin’s decuples
Usi Zade said the crypto market is “moving far in the season,” with shorter, more frequent cycles, as the crypto market is no longer trading in conjunction with Bitcoin.
“Bitcoin is its own rally; its impact is almost zero in the rest of the market,” he added. “Bitcoin is not only from the stock market, but it also decays from the altcoins.”
“We’ve seen so many chances that Bitcoin is just one green, and then the whole market is red. The money doesn’t flow from Bitcoin to Alts.”
Likely that crypto rallies, or seasons, will begin to be based around Popular narrativeOnly included tokens involved in the trending sector seeing the gains, Usi Zade said.
“Now, we’re talking about RWA (Real World Assets), maybe there will be a Rwas portfolio to climb, but it won’t reach anything,” he said.
The change in market attitude required for sustainable altcoins
Usi Zade said crypto investors are thinking of short cycles, making it “almost impossible” for projects to keep themselves in the long run, as the market expects them to earn a month.
“Amazon has taken over 10 years to be useful, and now we want a crypto adventure to do that in eight months,” he said. “That’s the biggest problem. The way the whole market is built.”
He said traditional businesses often see their preliminary investors selling to other venture companies when it comes out, helping to keep companies flush. However, with the crypto, it “happens in other ways” with tokens that are immediately available to retail investors.
“The token is a separate product. You need to work with entrepreneurs and make sure you are traded and your price is at least because when your price reaches almost zero, your product, or your project, is dead, and there is almost no way to restore it,” Usi Zade said.
Bitcoin becomes only recommendation
Usi Zade said many in crypto today recommend newcomers to only hold Bitcoin and shirking the wide -promoting portfolio allocation of 70% Bitcoin and 30% ether (Eth).
“Now, no one tells you bitcoin and Ethereum,” he said. “Everyone will tell you at Bitcoin only.”
He added that Ether’s price was “more stable” compared to Bitcoin, which continued to rally at new highs for almost a year, leaving investors with “no motivation” to buy ETH.
The dominance in the Bitcoin and Ether market has remained relatively stable last year. Bitcoin is currently maintaining a 58% market sharing, from a 12-month peak of 65%, while sharing the ETH market is 12% getting from many people lows 7.3% in April, per CoinMarketCap
Trade secrets: The bitcoin to see ‘another big thrust’ up to $ 150k, eth pressure constitutes
Further report by Ciaran Lyons.
