Tom Lee, co-founder and head of research of US Investment Fund Fundstrat Global Advisors – a market strategy and investment research company, explains via Twitter that the next big altcoin bull market, commonly referred to as “altseason,” can bring investors similar returns (3,631%) as 2017.

Accompanying the chart showing previous altcoin rally returns, Lee said:

“Past alt-seasons averaged 1,100% gains. Will the next alt-season be as strong as the past? Given there are probably only ~50mm active wallets (vs 5 billion Visa/MasterCard accts), we think crypto still early in the adoption curve. So it should be similar.”

Therefore, if Lee’s prediction proves true, crypto investors will be in for yet another wild ride with altcoins.

Also, an exuberant price rise in altcoins tends to increase Bitcoin’s value too, as investors eventually take altcoin profits and move a portion of them into Bitcoin (BTC).

Is the Altseason Already Underway?

According to Lee, the start of the next altseason may already be underway because the correlation between altcoins and Bitcoin has already begun to drop. Lee says this is an indicator that suggests the altseason is already beginning or will be soon.

As seen in Lee’s tweet below, the top chart shows that the altcoin market has already begun to rise, just as it did at the beginning of all the altcoin bull runs, the first being at the beginning of 2015.

As for the bottom chart posted in Lee’s tweet, it shows that the correlation between altcoins and Bitcoin is dropping, which is a bullish signal indicating altseason may be right around the corner.

 

While the charts Lee presented appear to present very promising indicators that an altcoin bull run is near, only time will tell. After all, Lee has made numerous bullish predictions that have been proven wrong time and time again.

Do you think the next altseason is right around the corner? Will 2019 and beyond see altseasons as profitable as the 2017 altseason? Let us know what you think in the comment section below.

Source