Is Etherium ushering an Altcoin Season?

This is a question that is without a doubt on my mind. Bitcoin dominance has been pummelling altcoins in the crypto market of late and with Etherium seeing increased performance, many Steemians wonder if Steem will be on the altcoin train, should this be a sign of an altcoin season to come.

One thing is for sure, this altcoin season will be less speculative than the ones possible in 2017. This time, only cryptos with a strong user case will prevail and the fact that Etherium has beat Bitcoin in transaction fees this week allows for a new perspective. Indeed, this would have been impossible during the last rodeo where in spite of passing 1000 USD in value (1600 CAD on Jan 09 2018), Etherium fees were 10 to 25 times inferior to that of Bitcoin according to decrypt.co.

Like Etherium, Steem has a very strong user case and is attractive to a community of devs so there is hope. Perhaps HF21 will help enlarge this community but will it be enough to be associated with the no. 2 coin should it soar?

Critics of Steemit are saying that SMTs which have been talked about since Steemit’s origins in 2016 are taking too long. That these tokens are fated to loose against EMRC tokens and other smart contracts that have exploited a critical window of opportunity.

Others say that Steem’s future will depend on the said SMT’s compatibility with Steem Engine’s existing infrastructures and, let’s face it, ecosystem.

Regardless it will be exciting to see what the future looks like and even though I don’t see Bitcoin’s dominance going anywhere, it’s good to see Altcoins making gains on Fiat while BTC is losing a (tiny) bit of value.

It’s funny how the smallest change in pattern is absolutely news worthy, as if it were some kind of indicator of what is to come.

This is not financial advice, only invest what you are willing to loose.