Bitwise Predicts Shift Towards Altseason, Only Select Cryptos Will Emerge Winners

The cryptocurrency market is expected to undergo a significant change in the coming months, according to Bitwise Investment Chief Matt Hougan. Speaking in an interview, he mentioned that only altcoins with real-world applications and 'huge businesses' behind them will emerge as winners in the next altcoin season.

This shift away from traditional altcoin seasons, where all altcoins rally massively, is driven by the increasing importance of practical uses for cryptocurrencies. Hougan emphasized that new altseasons will feature significant price jumps across select altcoins, rather than a broad-based rally.

The current market is still in a Bitcoin-dominated cycle, with a reading of 37/100 on the CMC altcoin season index. However, signs indicate an upcoming shift towards altseason, which is marked by a value of 75/100.