Altcoin News: Max Kaiser: Altcoin Phenomenon is the Past, All Money Will Flow into Bitcoin

July 2, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

The TV presenter and former trader Max Kaiser joined the pleiad of analysts who had lost faith in the possibility of the onset of a new altcoin season.

In a conversation with CNBC, he said that with the proliferation of technologies such as Segregated Witness and Lightning Network, people began to better understand the function that Bitcoin performs as a means of accumulation, and the ability to scale outside its main network. According to Kaiser, this insight forced investors to move money “back to the most protected chain.”

According to the TV presenter, the Altcoins will devalue or even cease to exist at all, because “all this money will flow to Bitcoin.” “The altcoin phenomenon is over,” he said, adding that the Bitcoin dominance index could grow from the current 60% to 80–90%.

Earlier a similar statement was made by veteran trading Peter Brandt, who suggested that this time Bitcoin will grow without accompanying alternative cryptocurrencies.

“If crypto-maniacs expect altcoins to do it again, they can be very disappointed,” he said.

Author: Marko Vidrih