Because the capital behind this bull market is coming from tradfi, not from capital overflowing from within the industry,
Therefore, waiting for Bitcoin and Ethereum to reach a certain price won't trigger an altcoin season.
Without regulatory relaxation, new capital won't be able to invest in altcoins. Even if Ethereum breaks new highs, the gains of so-called Ethereum betas won't be ideal, and the upward trend won't be sustainable.
Only when regulations are relaxed will incremental capital enter the altcoin market, and the market can continue to rise. $ETH
