After a relatively heavy ice age, the crypto market is slowly picking up. However, the charts are showing signs that may make altcoin enthusiasts happy. Indeed, it could be that cryptocurrencies are preparing for the big season!
End of bitcoin dominance?
The crypto market has suffered greatly since the beginning of 2022. Indeed, after reaching historic highs at the end of 2021, cryptocurrencies fell dramatically at the start of the year. However, everything is gradually falling back into place. Currently, the price of bitcoin (BTC) is bullish and the bullish trend seems started.
However, the first crypto is not the only one showing green oscillators. Altcoins are also in this list and the charts show a rise of these. Judging by the overall market capitalization of the crypto market right now, one would be tempted to believe that alts are prepare for the Altseason 2022.
After the price boom in 2021, the total market capitalization of cryptocurrencies was estimated at $3 trillion. During the crypto winter, it lost more than 50% of its value and is now estimated at around $1.3 trillion. Right now, the market capitalization of bitcoin is $478.7 billion. So, according to the website blockchain centerwe would be right in the Altseason 2022!
Ready for Altseason 2022?
Bitcoin is the leading crypto by capitalization. Because of this, it single-handedly dominates the crypto market. However, there is a period when altcoins take over and acquire a higher market capitalization than BTC. We are talking about Altseason or altcoins season.
During this period, it is recommended to invest in altcoins rather than BTC. Indeed, crypto investing requires a lot of attention. Therefore, in order not to be mistaken, it is best to diligently follow the news of cryptocurrencies. During bitcoin (BTC) dominance, it gains value rapidly. It’s quite the opposite during the Altseason.
Currently, altcoins are making a lot of noise. From ethereum (ETH) to Ripple (XRP), Cardano (ADA) or even Solana (SOL), the market capitalization of alts is growing in volume. No doubt they are ready for the Altseason.
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