CryptoQuant’s CEO, Ki Young Ju, says altcoins can no longer count on Bitcoin’s success to boost their prices. He explains that a big shift is happening in how Bitcoin is being bought.
Bitcoin’s New Investors: A Game Changer for Altcoins
The current Bitcoin rally, according to Ju, is mainly driven by institutional investors and Bitcoin ETFs. These players aren’t interested in swapping their Bitcoin for other cryptocurrencies (altcoins). Because they operate outside of typical crypto exchanges, moving their money into altcoins is much harder. This means altcoins need a new strategy.
Altcoins Need to Stand on Their Own Two Feet
Ju points out that the recent increase in altcoin trading volume isn’t because people are selling Bitcoin to buy them. Instead, it’s due to increased trading with stablecoins and fiat currencies – showing real market growth, not just Bitcoin-fueled speculation. He emphasizes that altcoins need to focus on their own merits and attract investment based on their individual use cases.
A Bullish Outlook, But Not for Everyone
While Ju remains positive about the future of altcoins, he cautions against expecting a massive rally for all of them. He believes that only a select few will attract significant new investment. In short: altseason is coming, but not every altcoin will reach its previous peak.
