Bitwise CIO: The era of broad altcoin rallies is over, and a "non-traditional" market cycle is coming

Jinse Finance reported that Bitwise Chief Investment Officer Matt Hougan stated that the frenzy of almost all cryptocurrencies surging together in a broad-based altcoin rally is unlikely to return. "I think that game is over. We will see non-traditional altcoin rallies," Hougan said in an interview on Wednesday. "The new altcoin rallies will only reward assets that have real-world use cases and practical applications." "I don't think we will see a situation where 'a rising tide lifts all boats, and everything wins'—that is, the pattern where funds rotate from bitcoin to ethereum, then to DeFi, and finally to NFT projects like stone pictures." Hougan said that future altcoin rallies are more likely to involve the market revaluing certain tokens, especially those tied to what he calls **"large-scale real-world economic businesses."**