Cryptanalyst and co-founder of the CMCC Crest venture fund Willy Wu said that one should not expect records from the upcoming altcoin season. Now it is being formed around memcoins, which is a mockery of the market, the expert believes.

Willy Woo emphasized that the market will experience altcoin seasons, but every year this trend will weaken.

“I’m not saying there won’t be altcoin seasons. Of course, there will be mid- and small-cap echo fractals rising after the Bitcoin pump as investors chase yield, moving higher up the risk curve. This is a normal part of the market, and we see it in quotes. But altcoins have no future because they are strongly linked to insider trading,” Wu said.

According to the expert, only those who know what specific future awaits them in the market can invest in altcoins, and the industry must finally realize that these coins have a lot of problems.

The third quarter showed that the altcoin segment was in a downward trend and was far behind the dynamics of Bitcoin. The profitability of altcoins will decrease even more in the next few years, the analyst pointed out.

Willy Wu previously said that the growing acceptance of Bitcoin among investors will help the rate of the first cryptocurrency reach $1 million within 11 years.