Lots of VCs / hedge fund managers worry there won’t be another altcoin season.

Disagree. Fresh retail liquidity will always look for beta plays to outperform BTC ETH SOL (> 2-3x), but won’t have the degen stamina to sit in front of a screen 24/7 chasing a 0.01% chance at a 1000x on Pump.

Sure you can lever up BTC ETF but most retail fresh blood likely won’t be sophisticated traders comfortable with perps on day 1.

Instead they buy alts that:

1.Have been around/have heard of - won’t die

2.They can somewhat understand

Altcoin season will be 100% back—but only for the “blue chips.”

Blue chip = Lindyness + continues to ship / show progress + has a visibly dedicated team

In crypto, some die, some rug. 80% of the job is just to survive.

It always comes back - as long as you keep it going