I remember the time when 'altseason' was almost a mantra in the crypto market. It was that magical phase when, after a Bitcoin pump, the altcoins would shoot up in a chain reaction, like fireworks. You would pick any somewhat forgotten project, throw in a handful of money, and within weeks, you would see green numbers sprouting in your portfolio. Today, I feel like this scenario has become an urban legend.
What has changed? Well, maybe the answer lies in the absurd amount of cryptocurrencies that appear every day. There are memecoins, influencer tokens, DeFi projects with ridiculous names, NFTs that become currencies, and so on. The market is flooded with options — many of them poorly made copies of ideas that have already failed. It's like entering a supermarket with 10,000 brands of rice, but 9,900 of them are spoiled. How to choose? How to trust?
Then comes the frustration: even with so much 'supply', altseason doesn’t arrive. Bitcoin rises, some blue chips like Ethereum follow, but the rest is floating in a sea of indecision. I see friends hyping new projects, betting on roadmaps full of promises, but the return is always the same roller coaster: up 20%, down 30%, and then drifting into forgetfulness.
Maybe the problem is saturation. Before, we had a handful of serious projects competing for attention. Today, it’s a war where everyone shouts at the same time, and no one hears anyone. Investors, tired of rug pulls and empty promises, migrate to the 'safe haven' of Bitcoin or play defensively. Capital concentrates, and altcoins become a game of patience — or pure luck.
And it doesn't help that many projects are born dead. Creating a cryptocurrency today is easier than opening an Instagram account. There are no technical barriers, much less ethical ones. Result: the market has turned into a graveyard of ghost tokens, and the few that survive need to fight against widespread distrust.
Still, I find myself wondering: has altseason died? Or is it just sleeping, waiting for a real spark of innovation? Perhaps the excess noise is forcing us to be more selective. Who knows, amidst this chaos, some genuine projects might still manage to shine — not for hype, but for utility.
Meanwhile, I keep hoping. Not for an easy 'moon', but for a market that matures, where quality is rewarded again. Until then, I continue holding my bets, suspicious of shills and grateful for the lessons this crypto jungle has taught me: patience, research, and a cautious approach are never too much.
