1/13 I am a Bitcoin maximalist, but I do believe there are a number of good altcoins out there. I believe over time a lot more good coins will come out, especially once security tokens will become more mainstream. That may take another 2 years though.

2/13I look at new protocols that come out and over the past year I have se en some great tokens, especially in the DeFi space (I like $LINK for example, but also $UNI). If they can defend their positions they can see 20-50X over the next years.

3/13 Most altcoins that did really well in the 2017 bull run lost over 95% of their value, simply because nobody wanted to hold them anymore. Except for some funds that got in on pre-sales, most buyers of these coins were retail investors. The altcoin bull run was retail driven

4/13 The Bitcoin bull run that started in October 2020 was led by institutional investors (family offices, hedge funds, some corporates). Until early November retail was not a big part of the equation. But that has changed all of a sudden.

5/13 Paypal is currently buying around 600-700 BTC per day, while Square is doing about 400 BTC per day. These are retail buyers. Because miners only mine about 900 BTC per day, it means that all newly mined coins right now are bought up by just Paypal and Square.

6/13 This is on top of the professional investors buying BTC, something that seems to be accelerating. And that of course explains why BTC went up 80% since late September. Prices have to go up in order to get people to sell.

7/13 I believe both retail and professional investors will keep buying BTC at an accelerating pace, meaning that BTC may see a 10X before this bull run is over (in 18 months). It's hard to predict, it could be a lot more, but I don't think we'll only be at $50K in 2022.

8/13 How about altcoins? Even though many altcoins don't have intrinsic value we may see a big increase in price for many of them. The reason is that retail investors who want exposure to crypto may think they have missed the boat on BTC already because it seems so expensive

9/13 They will look for alternatives and will find coins that were worth $10 in 2017 but are just worth $0.50 right now. That will seem cheap so they buy in. Because there is not much volume, It won't take long for these coins to go up 5-10 times, probably even faster than BTC

10/13 It's just human psychology in action. Retail wants exposure, but doesn't do a lot of research. Some coins are marketed heavily (Hello Linkmarines!) that will lead to FOMO and exploding prices. It seems like a self fulfilling prophecy to me.

11/13 The real inflow of retail money is just getting started, so the altcoin rally may not start until Q1 next year. But I do believe that if you like to gamble and want the odds stacked in your favour, now may be a good time to start placing your bets (No investment advice!)

12/13 Like I said I am a Bitcoin maximalist, so I won't play this game. But looking at the bigger picture I believe that retail is coming back and they will be looking for bargains. They will find those in altcoins.

13/13 History tends to repeat itself and this is something I have seen before. The signs are all there: Altcoin season may be coming. (Once again: this is no investment advice)