Bloomberg: the market entered the phase of the “corporate” altsyzone

The current market is located at the stage of the altcoin season, but only for coins that large companies included in reserves. This opinion was expressed by Bloomberg Exchange Analyst James Seyffart in an interview with Milk Road.

He added that firms engaged in treasury investments in digital assets (Datco) have made a huge profit, while individual altcoins remain relatively weak compared to previous cycles.

“I think Alseson began. […] I mean, these Datco are in full impact, ”Seffart emphasized.

Another potential driver, he called the approval of crypto-ETF applications in the United States. About 10 assets, including Dogecoin, Chainlink, Stellar, Bitcoin Cash, Avalanche, Litecoin, Shiba Inu, Polkadot, Solana and Hedera, are expected to resolve the SEC for inclusion in exchange funds.

However, the analyst has more restrained expectations regarding the demand for altcoin -etf compared to products based on the first cryptocurrency:

“Will there be the same interest as launching bitcoin funds? Absolutely not. ”

In his opinion, the basket of products including several cryptocurrencies will attract significantly more institutional capital than ETF for separate assets. Seyffart said that investment consultants prefer diversification, and not the concentration of positions in individual assets.

In addition, the expert doubted the repetition of altsyzons in the traditional sense, since the market movement is now determined by the institutions. This structural shift can forever change the growth models of cryptocurrencies.

In August, Bitfinex analysts stated that the altcoin season does not start before the approval of new cryptocurrency exchange funds.

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Source: Cryptocurrency

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