The popular cryptocurrency analyst and trader believes that a widespread altcoin season is unlikely in the current market environment.
In a new YouTube video, the anonymous trader known as The Flow Horse tells his 11,500 subscribers that he “doesn’t have enough money” to host an altseason right now.
“So what this means is you definitely have enough money to invest in an asset and scoop the shit out of that asset, but it’s going to be detrimental to your other assets. So there could be two people in this market and one of them has a complete idea of where we are in the market. There might be one person who says, ‘This market is being torn apart.’ It’s really amazing. ‘Alt season.’
And another person in the wrong asset is thinking that it is already a bear market because they are in a situation where they have completely retreated and have no real capital behind them and are no longer interested.
So I think the dispersion will continue. So the idea of Alt Season is the same rotation that is happening now, but it will be more focused. But a rising tide does not occur. It just doesn’t happen. “There is too much trash and not enough money to clean it up.”
The analyst is also keeping an eye on the chart of Bitcoin dominance (BTC.D), which currently stands at 58.53%. Traders use BTC.D to track whether altcoins are outperforming Bitcoin. This is because the indicator calculates how much the cryptocurrency market capitalization belongs to BTC.
According to Trader Charts, the indicator has risen more than 4% in the past six months, indicating that BTC is rising in value faster than altcoins.
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