Altcoin Season Has Always Been Active, According to Hayes

In a recent podcast interview, BitMEX co-founder Arthur Hayes emphasized that the altcoin season has never truly ended, despite some traders thinking otherwise. He urged traders to adapt their strategies, suggesting they focus on emerging market opportunities rather than relying on past trends.

Key Takeaways

Arthur Hayes believes the altcoin season is ongoing and many traders are simply unaware of the successful assets.
Hayes advises traders to look for new market trends instead of relying on historical patterns.
He highlights Hyperliquid and Solana as key examples of successful altcoins this cycle.
Opinions vary on what the next altcoin season will entail, with some waiting for Bitcoin to lead the charge before other altcoins gain momentum.

Altcoin season never ended, traders just missed the winners: Hayes

Hayes Challenges Traders to Adapt

While many crypto traders hold out for a new altcoin season, Arthur Hayes, co-founder of BitMEX, argues that it has been happening all along. He stated in a recent YouTube podcast interview, “There is always an altcoin season happening… If you’re always saying altcoin season isn’t there, it’s because you didn’t own what went up.”

Hayes noted that many traders are still anticipating an altcoin season that mirrors previous ones, expecting the same cryptocurrencies and narratives. “You wanted it to be like the last altcoin season because that’s how you knew what you had to do,” Hayes commented.

Adjusting Strategies: Look to the Present

He warned traders to adjust their thinking and focus on new opportunities rather than outdated strategies. “This is a new season, new things pump,” he pointed out.

As examples of success, Hayes mentioned Hyperliquid, which debuted at approximately $2-3 and skyrocketed to $60. He also referenced Solana, which saw a dramatic decrease in value last year, dropping to nearly $7, before roaring back to nearly $300 earlier this year.

Cryptocurrencies, Arthur Hayes
Solana is down 6.27% over the past 30 days. Source: CoinMarketCap

“Again, there’s been an altcoin season. You just didn’t participate in it,” Hayes asserted.

Varied Perspectives on Future Altcoin Seasons

However, not everyone shares Hayes' view. CoinQuant CEO Maen Ftoui told Cointelegraph that established cryptocurrencies with anticipated exchange-traded funds (ETFs) will likely attract a significant portion of the capital during the upcoming altcoin season.

The industry is buzzing with different opinions on how and when the next altcoin season will manifest. Some traders are still looking for the classic rotation model, beginning with Bitcoin achieving new high prices, which would then lead to capital shifting into Ether and subsequently smaller altcoins.

On a related note, Bitfinex analysts mentioned in August that altcoins might not experience a significant rally until ETFs, allowing exposure beyond major cryptocurrencies, are approved.

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