The crypto market is booming, to the delight of traders and enthusiasts. As values climb, a question arises: how long will this rise continue? Many analysts are already beginning to speculate on a potential altcoin season, where alternative assets could well dominate Bitcoin. But what is it really, and what are the signs to watch for for this long-awaited altseason?
Warning signs of the Altseason
The experts are unanimous: signals of an altcoin season are visible in the current market dynamics. Bitcoin recently hit an all-time high, but its dominance over other cryptocurrencies begins to wane. To trigger an Altseason, about 33 of the top 50 altcoins must surpass Bitcoin in growth.
Currently, 19 altcoins have moved aheadsuggesting a period of boiling for alternative tokens.
Renowned Analyst MikyBull Crypto Points Out Bitcoin Dominance Approaching a bearish “MACD crossover”an index typically associated with altcoin rallies. According to him, “the post-election creates a favorable atmosphere for altcoins”.
Here are the prerequisites for this Altseason:
- 33 altcoins in the top 50 expected to outperform Bitcoin;
- Bitcoin must maintain a certain level of volatility;
- Investors looking to diversify their portfolios towards alternative tokens.
Others, like IncomeSharks, recommend buying and holding altcoins in November, believing that this season could well begin before the end of the month.
The changing crypto market
The crypto market is changing rapidly, attracting attention from investors. Despite Bitcoin's record performance, its dominance could fall if institutions continue to take an interest in it.
The Altcoin Season Index reveals that for a full Altseason, it is necessary for 75% of altcoins to outperform Bitcoin. This remains a difficult target, especially since only 19 of the 33 required are up to standard today.
For some analysts, as long as the price of Bitcoin does not cross $80,000, the altcoin season will remain limited. If large institutions increase their interest in Bitcoin, this dominance could continue, pushing the altcoin season into 2025.
Maximize your Tremplin.io experience with our 'Read to Earn' program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
