Gambling time soon - Altseason

Can we have a repeat of 2016-2017 between 2020-2021? This is the real question.

Is it possible for Bitcoin's price to reach 100K and perhaps more during the next two years? It seems that everyone invested now are people that already made money from Bitcoin in the past and for these people, there is no risk, as they just trade or invest a really small portion of their profits (just in case) and the people that begun speculating with cryptocurrencies between 2018 and 2020.

I'm estimating that most of those that were looking into Bitcoin since 2013, and are still here they didn't make millions. They made mistakes, didn't think that prices of Bitcoin and altcoins could jump that high, and couldn't afford the pressure. Are these people now heavily invested? Some but still not all. Most are still losing traders and nothing will change. Others do not have anything to do with their lives than shill their bags on twitter. Anyway most of the bag holders, that are not early adopters that already made millions, bought Bitcoin in volumes that are way above their limits. They gambled and were lucky that prices recovered however this happened. Still, you can see that there is panic and desperation.

There is no hope for a 20x this time. At least not for the next two years. In 2015 people bought 10-50 Bitcoin with just 2000-10000 USD. This was a correct buy looking at how Bitcoin began developing and gaining adoption. 50 Bitcoins after 2 years made people millionaires. Right now you can just buy 1BTC maximum with 10K USD. And you can't make 100x. We just hope for a 10x this time which I find difficult as well.

In my opinion, the Bitcoin and altcoin market will stay as it is and fluctuate further for 2020-2021. What I think is certain is the massive adoption of altcoins. There will be projects that will be massively adopted and used by people in their every day lives. Perhaps Bitcoin will succeed as well, although right now I would look for other alternatives that will be able to help with speed, security, and low fees. These are the coins that can revive the broken economies and help businesses. $5 transaction fees are way too much. Transactions need to be instant and as feeless as possible.

I care about decentralization, but I won't miss an opportunity if I find one and it is a centralized one. To be frank I will use Libra as well. Why not? If I can profit from a marketplace as Facebook then I will gladly use it. Who hasn't used PayPal in the past? Do we claim that PayPal is centralized and garbage? It is a successful business that managed to help enterprises, trade, and consumers. Again, I'm in favor of decentralization and completely understand what it means. Although a decentralized network is not one that is sustained at a 60% rate from three Chinese companies. We have to trust the Chinese miners that they won't fuck up, that their government won't just shut them down and that they will be honest and won't attack the network if they see fit.

I am out of topic right now though. What I wanted to write about is that there is a good chance that during the summer we will see altcoins regaining dominance. The release of ETH 2.0, the Cardano release of Shelley, upcoming developments in many cryptocurrencies, and the increase of adoption of coins as Bitcoin Cash, Monero, Tezos, Tron, and Dash can become increasingly competitive versus Bitcoin. Bitcoin managed to reach 10K during the halving and most miners are right now striving. I don't really know how Tether managed to print 4-5 Billion USDT and how these were made available to the markets, still, they were a major reason for the price of Bitcoin to recover from the March dip.

Since 2018 I was expecting Bitcoin's dominance to reach even 80%. It did go up to 70% and now it is probably time to begin going down again. The signs are there. Other cryptocurrencies are already rising and perhaps it might begin even with Bitcoin not reaching 10K again. This is the reason for my title. I was expecting this summer for an altcoin season to occur. The total market cap of altcoins excluding Bitcoin right now stands at 95 billion USD. I think that this can easily double and we can see coins making 10x and 100x again. Perhaps a good time to buy a few altcoins would be after a dip just to minimize risk, but I've already taken a few small positions in some of them, just in case.

By the way, I don't advise anyone to gamble, as this is just speculation from my part. Still, I don't think that altcoins will keep dropping and Bitcoin will stay at this high dominance for much longer. It is still at 65% and this number can easily drop to 40% in a few weeks.