More money will be made in the Alt-Season that follows
The altcoin season is when the maximum number of altcoins rally with significant gains. The top 100 cryptos are considered and more than 50 percent of the coins are required to have a bull run for a successful ‘Altcoin Season’.
In the past Altcoin season, cryptos like Maker, VeChian, Chainlink, Cardano, etc and many other rallied with an average of more than 50 percent. However, Bitcoin price was not impacted much as it was during the altcoin season, Bitcoin crossed $10000 and never looked back till now.
However, it is speculated that the crypto space may have yet another altcoin season by the end of 2020 and would be more profitable than before. One of the crypto influencer, The Crypto Dog, has predicted a probable altcoin season in the month of November 2020.
Will ETH 2.0 launch impact Altcoin-Season 2020?
The testnet of ETH 2.0 is successfully launched and the working is been closely monitored. Once the testnet is successfully completed, ETH 2.0 phase 0 would be ready for the launch which is expected by end of 2020.
The main issue with the current Ethereum blockchain is the high gas-fees. Hence, this issue is speculated to be addressed in ETH 2.0. If in case the issue is resolved as per the expectation, then the ERC-20 tokens are expected to boom yet again with intensified growth in the DeFi space.
With the bull rally of ERC-20 tokens, Ethereum price also is expected to touch to great heights with the success of ETH2.0. Hence many predict a possible Altcoin season by the end of 2020 which can continue in early 2021 also.