BitMEX co—founder Arthur Hayes argues that the altcoin season is an ongoing process that never truly ends, and traders often simply miss the opportunity to make money.
During an interview with cryptocurrency advocate and influencer Kyle Chase, Hayes noted that many crypto traders are too busy waiting for a new altcoin to appear, so they don't notice that it happens all the time.
According to the head of BitMEX, many market participants still expect that the altcoin season will be the same as in previous years, and the same cryptocurrencies and patterns will participate in it.
You wanted everything to be like last altcoin season, because back then you thought you knew what needed to be done. But this is a new season, new trends are emerging," Hayes said.
He advised crypto traders to reconsider their approach and pay attention to what is new on the market, rather than relying on history. Hayes mentioned Hyperliquid (HYPE) as one of the best stories of this cryptocurrency cycle, noting that the price of the token started at $2 or $3, and then soared to $60. He also noted that in 2022, the price of Solana dropped to about $7, and then rose periodically and reached almost $300 at the beginning of this year.
However, not everyone agrees with Hayes' position on the "altcoin season." Some traders who hold different views still expect that the traditional cryptocurrency market will develop in the same way, that is, capital from bitcoin will transfer to ethereum, and later to other smaller altcoins.