When someone mentions AltSeason, we automatically think of Lambo’s and crypto going to the moon.
Yes, you are right that is part of it but we need to look further than just making a quick buck and look at what an altseason means for crypto and its future.
Let’s rewind to 2017/18.
That was the last altseason. In that winter, we saw Bitcoin peak at just under $20,000.
Yet that didn’t last long.
Then fast forward 3 years.
It is 2020 and Bitcoin is at just over $9,000 and we are waiting on the next bull run.
Now we could get into the detail of why crypto has changed since 2017.
But I have done a whole blog on that. What I cover in there goes into detail into understanding what caused the last one and what will cause the next altseason.
Not to repeat me, this is all about looking into when this event will happen.
Someone tweeted me the other day saying that “What is the altseason?
People have years waiting for that and nothing, I think AltSeason is fake all that crap.”
That got me thinking.
This can’t be the only person out there who thinks that.
I want to get it straight. We will have another altseason.
Yet these events just do not happen every year on schedule.
If they did then that would be no fun and no one would make money.
But the next one is very close.
The reason for this is because of the economic climate.
The last altseason was triggered by speculation but this one is different.
This one will be caused by the economic fallout
Right now we are in the biggest recession in over 300 years.
Let’s be honest we are in a depression and this is bigger and will be worse than the great depression in 1930.
Yet this will cause institutions to look for solutions to the problems.
One problem will be looking for a new and evolving area that can offer them great returns as well as the everyday person looking to invest in something that won’t screw them over as the current financial system will.
The other is the whole financial system will need to be redesigned as there will be huge pressure from the public as they won’t trust the system anymore.
This will lead to crypto and blockchain being introduced to fix the problems such as fraud, inflation and much more.
A reason for us to have not seen an altseason yet this year is that the financial markets still have more fallout to go and people are still occupied with trying to deal with the main threat at the hand of the Viwus and when the dust settles (in a few months) then we should see the focus shift to the state of the economy that everyone has neglected and then we could see the altseason go mainstream we have been dreaming of for the past 3 years.
We just need to stick with it and stay patient.
We have been waiting 3 years.
I think we can wait a bit longer.
Lets buckle in because things are only just getting started.
We have so much fallout we will have to deal with such as the housing crash at the end of the year when mortgage holidays stop.
Then we will have many more problems that will only get worse before things will get better.