Altcoin season may be a thing of the past as Bitcoin dominates

Belated Blurt out to you all fellow Blurtish citizens.

Bitcoin is holding strong as seems to be its new standard. Blurt is also showing masses of upside potential. The possibilities are just miraculous. The probabilities are anybody's guess. No one knows for sure where this altcoin market will go overall this time around.

Every cycle is the same, but different. Bitcoin always pumps and makes new ATHs, though these pumps are smaller each time compared to the last cycle. The parabolic uptrend is flattening long term as Bitcoin finds its true value.

I have waited four years for this moment but I have given up faith since then. This time altcoins are not performing as they used to. Some do but for short periods only. Many may never pump in value at all.

It all depends on liquidity in the macro market. If the Fed in USA cuts interest rates, then we will find more money in the system and more money will flow to cryptocurrency. Without it, not even Bitcoin will pump much in value. Bitcoin has also become captured by the macro financial market.

ETFs have entered, which means that institutional money has arrived in this cycle more than ever before. And it's not trickling down into altcoins like before. That may be part of why altcoin season is not happening like before.

We had ICOs in 2017 Bitcoin peak era. We had NFTs in 2021 Bitcoin peak, and this time we have ETFs and they perform quite differently compared to the past stimulants to the uptrend. All we have left is liquidity pumped in by the central banks and mainstream finance. Very little new small investors appear to be interested in entering the market as they did before during the previous cycles. Where is retail?

Perhaps Bitcoin has become mainstream and so there is no gateway into altcoins for new retail investors any more. Institutions now control the cryptocurrency market. Also, when stable coins become mainstream soon, that could shift the altcoin market still further.

Is there any hope in investing in some small altcoin project with the hope that small cap alts will pump like before? We will have to wait and see, since we have a month or so left of this Bitcoin bull market cycle, based on last timelines of cycles. And so far altcoins are looking weak to dead. It's the last chance, now or never. October coming in two weeks is the time for the pump, so get ready.

We can see in the weekly chart for bitcoin that price has been respecting the 55 weekly EMA during this year's bull market. Now, however, it is at the peak of the bull market and so price is actually respecting the 21 weekly EMA, which indicates an intensified uptrend. Price is still above the 50 weekly RSI, which is bullish, TA suggests more upside.

Hang in there because time to take profit is just around the corner, but not here yet.

Image: www.tradingview.com