The altcoin season seems to be just around the corner, but it still doesn't dare to impose itself. These alternative cryptos sometimes take the spotlight, leaving bitcoin in the shadows, before the latter regains its supremacy. Today, according to Glassnode experts, the next altseason could finally be announced when bitcoin breaks new highs.
Altseason, a promise always postponed?
Altcoin season is about to kick off, experts predict in June. But so far, no good times in sight.
Most recently, Glassnode co-founders Jan Happel and Yann Allemann, aka Negentropic on Xhave revived the hopes of an imminent altseason. According to them, the fateful moment could come when bitcoin surpasses its former all-time high (ATH) of $74,000. For now, altcoins are content to ride the bullish wave of the flagship crypto, but a tipping point could be near.
They believe that once this threshold is crossed, the crypto market could experience a general surge. The usual cycle would then begin: ” Bitcoin in the lead, followed by Ethereum, then large caps before mid and small caps “, says Negentropic.
But since May, bitcoin has made three surges without triggering that famous altcoin season.
- Since May: 3 BTC increases without Altseason;
- Altcoin Cycle Indicator Near 50;
- Current Bitcoin price: $64,246.
Crypto market awaiting collective take-off
According to NegentropicL'altcoin cycle indicator finally went back to nearly 50 before bitcoin shows new signs of strength. A value above this threshold suggests that the queen of cryptos is underperforming against alternative cryptos, which could herald the long-awaited start of a new altseason.
Traders are therefore on the lookout, ready to see if this time, altcoins will finally surpass their big brother Bitcoin.
Another user, BitcoinKiwicalled out Negentropic: β Do you think Bitcoin will go up first before a rotation to the alts, or will they go up together? Β»
According to experts, the latter could indeed come out on top, followed by a collective wave sweeping the entire crypto market. But the mystery remains: how long will altcoins have to wait to take over?
In short, crypto experts are divided on the arrival of the altseason. While some blame memecoins for delaying this cycle, others point to the fall of the crypto market in general.
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