Although Ethereum has been upgraded, it is very difficult to get out of your own market independently. This requires the cooperation of Bitcoin. If the capitalists are willing to buy the coin Ethereum, they can recover quickly.
Yes talking about Alt-season, we need to wait for Bitcoin to take its action before making that season. But for ETH itself, I believe this upgrade is going to be big.
At least, a massive gain is must if we are looking at what they are going to implement and they are going to achieve.
I don't think the altcoin season is somewhere near unless a regulation is put up in placed. Ethereum and BTC is one of the most safest and most stable investment for our hard earned money, but as what they say.
Higher risks means higher rewards, small altcoins could earn you double - three digit percentages just like last year's!
Even if a regulation takes a place, the price will not get pumped so hard like before. Because the regulators will make their own way to prevent it.
remember, regulation exists to protect investor interest.