Willy Woo, who gained a large follower base with his analyses especially during the 2021 bull season, evaluated both a possible altcoin season and the meme coin craze.
“Meme coins have no value”
Woo, who stated that he had not talked about altcoins for years but wanted to touch on this subject due to a special question asked, started the subject with meme coins:
“This market cycle is actually different from the others… The current cycle is the 3rd cycle we have seen since 2017, when small investors invested seriously, made big losses and it was first talked about in the mainstream. 2020/21 was about DeFi and NFTs. Here too, a serious small investor group made big losses. The 3rd sub-cycle seems to be about meme coins. It is a period that makes fun of the crypto world. There is a bubble that is not revolutionary, does not develop any technology and is just a ‘casino’ style… I think small investors will start to learn from this now. People usually understand this in the 3rd bad experience”
“It won’t be the same”
Woo, who stated that Bitcoin dominance entered a long-term rise after a major collapse, wrote that there may be an altcoin season but it may not be like the old ones:
“It’s as if Bitcoin dominance rose after a major collapse… As if the slow motion of the Covid crisis… Everyone went crazy. The world was coming to an end. Then they started saying that altcoins would surpass Bitcoin. Then normality and logic came. Then the graph came to an upward long-term balance. I’m not saying there won’t be an altcoin season. Medium and small-caps will definitely have similar movements as in the past. Investors will take action for more profit. This situation always happens in the markets. We see this in stocks too. But after the big bubble cycle in 2017, alt seasons will be weaker in every cycle”
“There is no long term in altcoins”
The famous analyst, who also stated that altcoins have a renewed market and cannot be long-term investments in this sense, said, “Of course you can buy and sell. But do not hold them long term unless you have inside information. Because altcoins are an ‘insider’ game. In the end, the ‘casino’ wins. But I think you already know that.”