Altcoin season never ended, traders just missed the winners: Hayes

While galore crypto traders are inactive waiting for the adjacent altcoin play to begin, BitMEX co-founder Arthur Hayes said it’s been underway each along.

“There is ever an altcoin play happening… and [if you’re] ever saying altcoin play isn’t there, [it’s] due to the fact that you didn’t ain what went up,” Hayes said during a podcast interrogation published to YouTube connected Thursday.

Hayes said galore traders are inactive expecting altcoin play to play retired the aforesaid mode it did successful erstwhile years, assuming the aforesaid cryptocurrencies and narratives volition repeat. “You wanted it to beryllium similar past altcoin season, due to the fact that past you felt similar you knew what you had to do,” Hayes said.

Hayes warns that traders should “adjust” and not look astatine the past

“Oh, I gotta bargain these things due to the fact that that is what pumped successful the past season,” helium added.

Arthur Hayes (right) spoke to Kyle Chasse (left) connected his podcast connected Thursday. Source: Kyle Chasse

Hayes said that crypto traders should rethink their attack and wage attraction to what’s caller successful the market, alternatively than relying connected history. “This is simply a caller season, caller things pump,” helium emphasized.

Hayes pointed to Hyperliquid (HYPE) arsenic being the “best story” of this crypto rhythm truthful far, pointing to launching astatine “two oregon 3 bucks,” earlier “ripping each the mode to $60.”

He besides cited Solana (SOL), which shed astir of its gains successful 2022 down to astir “seven bucks,” earlier surging to astir $300 astatine the opening of this year.

Solana is down 6.27% implicit the past 30 days. Source: CoinMarketCap

“Again, there’s been altcoin season. You conscionable didn’t enactment successful it,” helium said.

Not everyone agrees with Hayes, however. CoinQuant CEO Maen Ftoui precocious told Cointelegraph that older cryptocurrencies with an exchange-traded fund (ETF) oregon expected to person an ETF volition soak up overmuch of the superior deployed during the adjacent altcoin season.

Industry debates what the adjacent altcoin play volition look like

Many successful the manufacture person differing views connected however and erstwhile the adjacent altcoin play volition unfold.

Related: Bitwise exec says 2026 volition beryllium crypto’s existent bull year; here’s why

Some traders are inactive waiting for the accepted rotation, starting with Bitcoin (BTC) reaching caller highs earlier superior rotates into Ether (ETH) and past into smaller altcoins.

Meanwhile, Bitfinex analysts said successful August that altcoins are improbable to spot a broad, outsized rally until ETFs offering exposure beyond the largest cryptocurrencies are approved.

Magazine: Big questions: Would Bitcoin past a 10-year powerfulness outage?