Some experts in the crypto space have expressed doubt that there will be an alt season when altcoins would make significant gains similar to what Bitcoin has experienced so far. Veteran trader Peter Brandt shares this view and earlier said those expecting an alt season may be disappointed as altcoins didn’t survive the first .com bubble.
One trader, ‘BitBit’, however, has a different opinion. He says an alt season will come but it may or may not affect all altcoins. He mentioned two scenarios in which either one or two altcoins will multiply 1000x while others struggle at 100% to 200% or the entire market may see a massive rise.
BitBit isn’t the only one with the opinion that an alt season may be on the way, in fact, there are some who believe more strongly that an alt season is on the way. Controversial Bitcoin bull and U.S 2020 presidential candidate John McAfee believes an alt season is not a matter of if, but rather a matter of when.
McAfee says the coming alt season will outdo Bitcoin’s bull market as the surge will be 30 times that of the king coin’s. He says his conclusion is based on simple maths and privacy coins such as Monero (XMR) will lead the alt season to a massive price gain in the near future.
Bitcoin was leading on the charts with ETH following from a distance while the remaining alts suffered as its dominance increased. It, however, slowed down slightly for a few days and alts have now shown some signs of revival together with Bitcoin as the market turns green. A similar pattern was shown a few weeks ago but was short-lived.
Will this one last longer and is it possible that it is the alt season? If an alt season does come, investors will be left with the decision to choose which alts to invest in and choices will be further narrowed if only one or two will see the huge gains. Will it be McAfee’s privacy coins or will it be among the top altcoins on the chart?
