TL;DR
Crypto “altseasons” are predictable boom-and-bust cycles fueled by hype and inexperience. Like past financial bubbles, they lure in the naive with promises of quick riches, leaving many holding the bag when the inevitable crash arrives.
Story
Another crypto “altseason”? Color me skeptical. The attached image shows the typical hype cycle: Bitcoin pumps, altcoins follow, then the inevitable crash. It’s a rinse-and-repeat cycle of greed and naivete.
How does it work? Simple. Speculators, blinded by “guaranteed riches,” pump money into dubious altcoins. These coins, often with no real utility, inflate in value based purely on hype. It’s like a game of musical chairs—everyone wants in until the music stops. And it always does.
Remember the 2008 housing bubble or the dot-com crash? Same song, different verse. People chase quick profits, ignoring fundamental flaws. When reality hits (regulation, market correction, etc.), the house of cards crumbles. John, a friend of mine, lost his life savings chasing the last altseason. He’s not alone.
‣ Altcoin: Any cryptocurrency other than Bitcoin. ‣ Bitcoin (BTC): The first and most well-known cryptocurrency. ‣ Pump and dump: Artificially inflating an asset’s price then selling before the inevitable drop.
The current narrative is no different. People claim “this time is different”—it never is. The halving, market conditions, whatever the excuse—it’s always the same story of human greed.
What did John learn? A painful, expensive lesson: If it sounds too good to be true, it probably is. Don’t get me wrong, making money is great. Just don’t fall for empty promises. Do your research. Be skeptical.
Advice
Don’t chase quick riches in volatile markets like crypto. If it feels like a casino, it probably is. Invest wisely, and remember: there’s no such thing as a free lunch.