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Altcoin Apocalypse Coming: 3 Reasons Leading to a Brutal Altcoin Reckoning
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Altcoin Apocalypse Coming: 3 Reasons Leading to a Brutal Altcoin Reckoning

As bitcoin roars back into a bull market, traders are eagerly awaiting “alt-season,” a parabolic jump in altcoins that historically follows bitcoin’s rise.

But they’re going to be disappointed. There won’t be an alt season in this hype cycle. Not like 2017, anyway.

Altcoins like XRP, EOS, XLM, BSV and many others in the top 20 will drastically underperform bitcoin in this bull run unless they make a major real-world breakthrough. And hundreds of altcoins will disappear completely. Here’s why:

  1. The narrative has switched to “bitcoin, not blockchain.” Incoming institutional money won’t buy alts. 
  2. None of the 2017 alt season catalysts exist this time around.
  3. Traders will use the growing bitcoin derivatives market to find huge gains instead of alts.

Let’s take each one in turn.

Bitcoin dominance chart
Bitcoin dominance chart

1. This time it’s “Bitcoin, not blockchain”

The whole narrative around bitcoin is different this time around. In the last hype cycle, leading figures in the tech and banking industries always kept their distance from bitcoin. They all used the same “blockchain, not bitcoin” mantra. 

That’s why tons of venture capital (VC) money flowed into blockchain projects and altcoins. At the same time, bitcoin was plagued by scaling debates. Investors were desperately looking for “faster” and “better” blockchains. That’s why Ripple, EOS, Tron, Stellar and others got so much hype.

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