Compass Investments

– According to TradingView, bitcoin’s dominance is 59.31% , just slightly short of the 60% that some analysts believe is the point at which capital begins to flow into altcoins.

Willie Wu claims that the current altcoin cycle is shaped around Mimcoin, which he believes is making a mockery of the cryptocurrency space.

These comments contradict what Matty Greenspan, founder of Quantum Economics, recently told Cointelegraph, The upcoming bull run is going to be about bitcoin and its second tier.

Willie Wu urged his 1.1 million followers to avoid taking long positions in altcoins, saying that “there’s no pretense that this is going to be a disruptive, world-changing technology, just an honest-to-goodness bubble casino”:

because altcoins are an insider’s game, like a casino where the house wins in the end.

He also warns that altcoin volume reflects winners, not failed tokens.

Remember that altcoin volume is like a cricket bat with 10 new handles and 10 new blades, it’s the sum of all the new winners. The losers are not counted in the market volume, says Willy Wu.

Many crypto analysts are wondering when the market will finally announce that the altcoin season is coming.