Head of Binance: Altcoin season will not affect everyone

Binance CEO Changpeng Zhao believes that the altcoin season has already begun, but not all coins will participate in the bullishrally.

Changpen is sure that one should not ignore the sharpthe altcoin market is growing, but it must be understood that 95% of projects will not see their price increase over the next season. Only projects that are constantly evolving over the past three years have chances.

Thus, the price of Dogecoin (DOGE) increased by more than 70% due to a viral TikTok video urging users to buy cryptocurrency. 

The price of VeChain (VET) rose sharply after the announcementabout participating in the 2020 World Conference on Artificial Intelligence, organized by the Shanghai Municipal People’s Government. The conference will also bring together Microsoft, Alibaba, Tencent, Huawei and Amazon.

Bitcoin has been trading inrange from 10,000 to 9,000 dollars, and altcoins continue to grow rapidly. Analysts call this period the alt season, since altcoins beat BTC and reduce the market share of the flagship cryptocurrency.

The last altcoin season was in 2017, whenBitcoin's dominance fell to 33%. It has since recovered to 64% as most alts lost over 80% – or in some cases 90% – value, while BTC fell 52% from its all-time high recorded in December 2017.

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