Arthur Hayes Says The Real Altseason Everyone’s Been Waiting For Will Start Once This Happens

Bitcoin has reached new all-time highs multiple times, yet many top altcoins are still lagging behind their previous cycle peaks. So, what gives? Is altseason just delayed, or could it be that it won’t come at all? According to crypto OG Arthur Hayes, the long-awaited powerful altcoin rally will only start after Bitcoin soars above the $110,000 level and rallies toward $200,000.

When Will Altseason Arrive?

Speaking with Fortune Crypto, the outspoken crypto mogul and former BitMEX CEO said he expects Bitcoin to go parabolic and reach these sky-high heights in the “summer or early third quarter.” A rotation of capital from Bitcoin into various altcoins will then follow, with Hayes foreseeing a potential upsurge.

Altseason is a period when altcoins outperform Bitcoin. Historically, altcoin seasons occur when traders rotate profits out of the benchmark cryptocurrency and into other cryptocurrencies.

However, Hayes cautioned that this will be a very selective alt season. Unlike the meteoric altcoin surge of 2021, where almost all tokens pumped hard regardless of fundamentals, only a few coins will surge during the upcoming cycle.

In his view, a new narrative will spark attention and speculative trading in certain tokens, but he notes that “dino coins” are unlikely to recover.

“A lot of those coins have high FDV, low float, no customers, no revenue, just some CEX listings, that went down 95%, I don’t really see why those should do well in the next cycle,” the pundit explained.

Bitcoin staged a sharp rally past $106,000 on Sunday, only to reverse course and dump back to around $102,000 as of press time.

Hayes, who received a presidential pardon from President Donald Trump earlier this year, predicts a Bitcoin rocket to $200K in the next leg up and hit $250,000 by year-end. A $1 million Bitcoin price tag could be attained by 2028 as Trump leaves office, per the ex-BitMEX boss.

Ether vs. Solana

Regarding Ethereum versus Solana, Hayes believes the second-largest blockchain has more bullish prospects.

The crypto OG reckons that Ether’s underlying fundamentals and ecosystem resilience make it a better bet than SOL in the coming months, despite its recent underwhelming price action and the heavy criticism it draws from skeptics.

“I think that Ethereum could outperform Solana in this next sort of 18-24 months bull run,” he stated.