Do we think there is a chance of potential altseason next few years like we saw before 2022 or are those times over?

If we're seeing how stable alts mcap is decreasing. We can take a conclusion if we won't see those times again anytime soon. Long term may be possible, but not for short term. The chart
(Note: that chart is excluding BTC and ETH mcap) is clearly saying it all how we're still in the very bearish trend.
I have been in crypto a few years now and had a few good winners end of 2024 seeing returns of 10x or more but the majority of my altcoins are in the red and not seen any type of positive action since 2021.
I have been reading one of the main reasons altcoins have not performed well since the end of 2021 is because we had QT (quantitative tightening) for 3.5 years from June 2022 till December last year and during QT altcoins do not tend to perform well due to drained liquidity and risk off environment. Do we think this is a likely reason for lack of altseason or not?
My chart above was the proof how altscoins are slowly, but surely getting drained. No bump, and it's steadily moving down.
- So many defi hacks.
- So many memes with the purpose to rug retails
- So many useless copy cats
- So many non innovative and non serious development in alts
In the end, retail becomes the main victim from so many shady things happened in alts. When they gone, they're unlikely to comeback. Things worsen with stock tokenization that is also sucking alts liquidity now.
Bitcoin did really well last cycle, going from $15.5k end of 2022 to $126k October last year, a 700% increase and some alts did this but majority did not.
I am just wondering what to expect from alts next few years, are the days of seeing a 30-50x return still possible or should we just be very happy if we get a 10x with altcoins now?
Nothing to expect. The current climate ain't the same like a few years ago when we had fewers alts to invest and to hype with. Millions scam memes combined with stock tokenizations are raesons why alts is dying now.