Renowned CEO Says “Altcoins Are Coming for Revenge”, Answers the Question of Whether Altcoin Season Will Start

Bitcoinsistemi2024/07/29 19:04

By:Mete Demiralp

GSR CEO Rich Rosenblum evaluated the possibility of an altcoin season in the cryptocurrency market in his statement.

In a recent social media post, Rich Rosenblum, co-CEO and co-founder of crypto market maker GSR, shared his views on the future of Bitcoin (BTC) and altcoins. He expressed confidence in the potential comeback of altcoins despite the current regulatory environment.

Rosenblum suggested that Bitcoin's dominance has increased over the past month and may continue to lead the next phase of the bull cycle. He also mentioned Solana (SOL), calling him the 'fastest horse'.

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He stated that during previous Bitcoin rises, he initially thought that the altcoin season was close, but later realized that this was not possible due to the regulatory environment at that time. In the current rise, he thinks that the teams and technology behind cryptocurrencies have improved significantly and that these advances will enable the development of altcoins.

Despite the current dominance of Bitcoin and Solana, Rosenblum expressed extreme confidence in the resurgence of altcoins. He concluded his post with the following words: “This is the most confidence I have ever felt that altcoins will come back. And with a vengeance.”

*This is not investment advice.

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