Do repost and rate:
I've heard arguments on both sides of this question, and there are a few important points that I think you should consider before going all in. In general, I don't think this alt season will be like 2017. Here is my reasoning.
- The fake ass shills are predicting an altcoin 100X. Anything that Bitboy or Elliotrades says, I do the exact opposite. You really don't need any other reason.
- This is an institutional pump, not a retail pump. In 2017, people took their bitcoin gains and either bought lambos or speculative ICOs. That's because the people pumping bitcoin were unsophisticated individuals using their own money. In 2020, this pump is all about institutions. Institutions aren't going to splash their bitcoin gains on pickles and sushi. Imagine telling your investors, "I lost 90% of your money investing in a pickle jar." Not happening. This is why the Yearn ecosystem is dumping slightly. Institutions are moving into the crypto blue chips, not the true defi and new speculative projects.
- The order books are fatter. Big pumps come from thin order books. There are more people in the crypto space now, so you're not going to see huge jumps over price chasms like 2017.
- Investors in the crypto space are more educated. People actually know what they are getting into now, so you're not going to see as much pure speculation. The big gains will come from projects that have established a use case. You may see a few 100Xs from the smaller altcoins, but definitely not as many. And those coins will have legitimate use cases.
- New speculators don't have any money. This pump is coming at the tail end of a financial crisis for normies. If they aren't already in crypto, they won't be coming into crypto for some time. This could change if a significant stimulus is passed quickly in the United States. But unlike what that absolute idiot Elliotrades shills, crypto does NOT need a US stimulus in order to pump.
