Thomas Lee is director of Fundstrat, an American investment company. He believes that the altcoin season is coming soon.
The altcoin season refers to the period in which altcoins increase considerably in value. Altcoins are all coins other than bitcoin. Think for example of Ethereum, XRP and Litecoin. But also lesser-known coins, such as Polymath, Quarkchain and JET8.
Is the bitcoin rate rising? Then altcoins often rise as well. In 2017, various altcoins also rose to unprecedented heights (and okay, these coins also fell in value much faster than bitcoin).
On Wednesday 26 June it went fast with different altcoins. Different crypto coins increased in value by more than 20 percent, as you can see on the tweet below. According to Thomas Lee, the altcoin season is therefore close. Which crypto coins should increase in value? He leaves that in the middle:
There will be an alt season… https://t.co/lLJKKprbAv
– Thomas Lee (@fundstrat) June 26, 2019
By the way, things can go fast in the world of cryptocurrency. Only a day later the market looks very different. The bitcoin rate has dropped considerably, and various altcoins have also fallen considerably in value:
Thomas Lee often makes (daring) statements about the price of bitcoin and other cryptocurrencys. Earlier this year, Lee predicted that bitcoin would break out in August this year. That news led to divergent responses.
And John McAfee also believes in an altcoin season. In a tweet, he states that different altcoins can “rise ten times faster than bitcoin.”
Bitcoin cranking up, but the real winners, beginning soon, pwill be the alt coins 10x + the rise in Bitcoin. Top of the heap will be the ones must be down in the Bear Market – Docademic, Apollo, XTZ, etc. This is where the real money is made. Fill your bags folks. pic.twitter.com/Mgh8KVd4M2
– John McAfee (@officialmcafee) June 26, 2019
John McAfee is the founder of the eponymous anti-virus software McAfee. Nowadays he is also a well-known (or perhaps notorious) figure in the cryptocurrency world. One of his best known statements is: “I will eat my national television on the price of Bitcoin (BTC) did not hit $ 1 million by 2020.”
Anyway, many analysts now agree that the cryptocurrency bull market has begun.
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