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One of the most wide-spread CT reasons, on why there was no altseason, is "dillution" - too many altcoins. Makes me cringe even writing this word.
This chart (TOTAL3es) alone says that's all a load of BS.
Altseason comes when there's a flood of new capital coming in which causes expansion. You can clearly see capital was very limited this time around.
If altcoin MC was in a strong expansion and altcoins not doing much, only THEN would "dillution" be reasonable to assume as the capital would disperse into all the altcoins available.