The CEO of Binance, Changpeng Zhao has mentioned that 2019 may see an altcoin season never seen before on the market.
Mentioning the fact that the Bitcoin spikes this year have been much more stable than in 2017. By much more stable CZ most likely meant that the growth pattern is a lot more natural.
For example, in 2017 Bitcoin managed to surge from $1,000 valuation to almost $20,000 in just a few months, while this year, the spike has been relatively constant, starting with almost $3,000 in BTC price and leading up to a maximum of $14,000 so far.
However, most of the crypto community is now waiting for Bitcoin’s dominance juice to run out and an altcoin season to start, which according to Binance’s CEO could help introduce projects never seen before in the market and further advance the blockchain industry.
According to CZ, having so many applicable blockchain projects with actual blockchain values behind them, give the price consolidations much more legitimacy than they had in 2017, which was just formulated hype behind one cryptocurrency that spilled over into altcoins as well.
This year though, once the BTC stops its spike to a predicted $20,000 again, it’s likely that major altcoins like LTC, ETH and etc will reach peak market capitalizations over the course of the remainder 5 months in 2019.
This announcement precedes today’s bearish sentiment though as most coins lost almost 15% in evaluation.