Is it me or I have a feeling the alt season is finally coming to an end.
The alts didn't bounce as hard as I expected, or if they did, they didn't hold long.
Yesterday commission hearing was bullish for bitcoin, but bearish for alts in my opinion.
So, is the alt season f-f-f-finally ending? Or I'm just seeing shit....
You're just seeing shit.
Bitcoin is still "down" from a short-term perspective and pretty much all altcoin valuations are denominated in BTC, not USD. Once Bitcoin starts tracing back up, altcoins will probably go down in terms of BTC while roughly tracing their "original" USD valuations. Then once Bitcoin starts moving sideways, alts will play their usual catchup game.
In the meantime, whichever alts have strong changes in fundamentals will go up regardless of the current market situation.
But in short, there's certainly no reason to assume that altcoins are "ending". They are primed to be the equity of the future, especially if regulators actually start embracing cryptos. Of course, that does not include complete and utter shitcoins with no value proposition.