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According to analyst Willy Woo, while altcoin seasons will continue, their profitability will gradually decrease as the cryptocurrency market matures.

I haven’t talked about altcoins in years, I quit my interest in them after the “shit rolls downhill chart” mapping the performance of 10,000 of them. But someone asked me specifically and this is how I see altcoin market cap…

This cycle has been markedly different from others.…
— Willy Woo (@woonomic) October 26, 2024

“This cycle is different from previous ones. This is already the third cycle since altcoins began to gain popularity in 2017. In 2020-2021, we saw ‘innovations’ in DeFi and NFTs, […] and in this third cycle, meme coins dominate, which essentially parody the crypto industry. Without pretending to be revolutionary, it’s just a honest casino,” said Woo.

The analyst also pointed out that altcoin dominance in the market resembles a slow crash and recovery, similar to the COVID pandemic crisis, and that with each season, the growth of altcoins weakens.

“Trade if you’re interested, but don’t hold altcoins for too long unless you’re sure you have insider-level information. Altcoins are a game for insiders, like a casino where the house always wins. But you already know that,” he added.

In May, Woo also predicted that Bitcoin’s price would reach $1 million by 2035, noting that this would be its “fair price.”

Earlier, analysts at Hashkey Capital stated that it wouldn’t be enough for Bitcoin to surpass its historical highs to start a new altcoin season. According to their estimate, BTC must reach $80,000 to trigger it.

At Bitwise, analysts highlighted conditions that could help Bitcoin rise above this level by the end of the year. These included a potential victory by Donald Trump in the U.S. elections, a 50-basis-point rate cut by the Federal Reserve, stimulus from China, and the absence of unexpected events in the industry.