April to June 2019 saw another alt season when Bitcoin hit $13,800. It was termed as the April Fool’s rally, since BTC commenced its rally on April 01. In less than 80 days, BTC surged from a mere $4,000 to $13,800, a 242% increase.
By mid-2017 ICOs skyrocketed into a hyperbole. Each project tried to solve an issue and promised a brighter future. Naive investors hedged their money into these coins and awaited a pump, which came, making investors and creators rich. However, the first alt season didn’t end there, it continued as the euphoria from accruing investors kept pouring in. The altcoins topped from mid-December 2017 to January 2018. Thus creating the biggest alt season ever.
The same happened to every alt season after this, however, on a much smaller scale. All the alt seasons pale in comparison to the first.
- Is it alt season
- Is it alt season now
- Bitcoin’s dominance needs to plummet for the alt season to begin
- Is it alt season yet vlog# 92
- Is it alt season yet crypto gift cards
- Is it alt seasongo
- Is it alt seasoning
- “A wise king never seeks out war but must always be prepared for it”
- Is it alt seasonx
- History of Alt Seasons
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Is it alt season
After all, everyone knows that there will only ever be 21 million units, and there’s an ongoing race to see who can lock them away first.
Still, it would be way too early to call for the end of gains in other parts of the market. It takes a lot of inflows to move the bitcoin needle, whereas there are new coins coming online every day that can be pumped with much less capital invested.
So, even if bitcoin does see another mighty run and we do see $100,000 per coin by the end of the year like more than a few analysts are predicting, the level of BTC-FOMO required for an industry consolidation doesn’t seem to exist. Not yet anyway.
The deep green color across the board would seem to corroborate this.
Is it alt season now
Altcoin period can mean many points to different people.
To the crypto bag holder, it means a joyful time of reaping gains on their beloved altcoins.
But to the bitcoin maximalist, it’s more a time for public contempt on crypto Twitter. As well as of course, there are many individuals in between that enjoy to dabble in altcoins.
Any cryptocurrency apart from BTC is taken into consideration as an altcoin. Some of the most renowned coins to date include Ethereum, Litecoin, XRP, and Tether (USDT).
From mining coins as well as stablecoins to utility or safety and security symbols, there are ones that play to practically anyone’s imagination.
An Altseason suggests that crypto markets are seeing an increase of brand-new investors in the crypto area. Historically, this has actually taken place when bitcoin has experienced its all-time highs.
One of the most common theories and indicators of the beginning of alt seasons is the decline in Bitcoin’s dominance which currently stands at 68.4%. In 2017, Bitcoin’s dominance hit 63% right before plummeting down to 32% which paved the way for the alt season.
Bitcoin’s dominance needs to plummet for the alt season to begin
Most traders and analysts agree, Bitcoin’s dominance needs to decline or at least remain flat for an alt season to begin. So far, Bitcoin’s dominance has been rapidly rising since November 2020.
Is it alt season yet vlog# 92
In fact, more people voted “banana” than are willing to admit that the monstrous gains we’re seeing in obscure altcoins will go away any time soon, and even fewer people don’t have an opinion at all.
Jokes aside, the Bitcoin Dominance Index, which measures bitcoin’s proportionate share of the total crypto market capitalization (44.67%), is having an incredible day (last green candle on the right), and it is just shy of a multi-month high (dotted orange line).
With the amazing news yesterday from U.S. Bank, bitcoin has good reason to be in the driver’s seat right now.
Data from cryptocurrency social media analytics platform LunarCRUSH also indicates that social sentiment has been turning rather bullish lately.
Is it alt season yet crypto gift cards
The chart shows the total Cryptocurrency market cap, excluding Bitcoin, recently reclaiming its key prior highs from late 2017.
Growing from under $50M in 2016 to a total value of over $600B today is incredible — and has represented one of the best opportunities across financial markets over the past decade. We still think there is plenty of room left to profit from this trend.
Despite how “over-extended” Crypto may appear at a glance, the reality is a large chunk of the asset class is still below the 2018 highs and just now breaking out.
Seeing all these fresh breakouts and new all-time highs suggests we’re likely in the early innings of a new bull market in Cryptocurrency… not the end of an old one.
We also performed an extensive analysis of these trends on a relative basis.
Hope you’re all loving the price action in the markets lately.
Today, bitcoin took charge of the crypto market, generating impressive gains of about 10% over the last several hours. Many altcoins are also in the green, but not nearly as much.
Perhaps the most gratifying thing, however, is that this bullish bitcoin move comes despite a rather sour mood for Wall Street and the stock market, a clear indication that bitcoin has returned to its normal detached relationship with traditional markets.
The one asset that really made heads turn is natural gas. …
The underlying fundamentals behind this awesome move are pretty clear.
Is it alt seasongo
In general one wants to be out of crypto or in BTC rather than alts if it isn’t alt season. That said, alt season can come on quick, and trading alts can be profitable in any season, so you’ll find plenty of people in alts during the off-season too. Just try not to FOMO into the top and HODL into salt season, because that can sting.
TIP: Outside of “alt season” most alts can lose amazing amounts of value (either because Bitcoin goes up or because everything is in a bear cycle). So while going “long” in alts can make sense, you typically want to avoid going all-in at the height of alt season and holding. 1,000% gains are real, but so are 90% losses.
Is it alt seasoning
At the time of this writing, FTT is up 27% YTD and hitting new ATH’s”
“A wise king never seeks out war but must always be prepared for it”
Chasing nostalgia can drive people to the ends of the world. There are players in the crypto-ecosystem that are chasing their initial high, hoping for another alt season with their heavy bags of altcoins. A sure-shot, get-rich scheme is what most alt seasons mean to traders and investors.
Now that it’s begun… the next consequential question is “How long will it last?”
The longevity of this alt season hinges on:
- Bitcoin Halving – This is a major event that is set to happen in less than 3 months, which will reduce Bitcoin block rewards creating a negative supply shock. If the demand for Bitcoin does increase with an influx of more miners, there is a chance for an increase in Bitcoin dominance.
Is it alt seasonx
Each year, the nostalgia of the 2017 alt season pushes investors to unknowingly pour money into ICOs, IEOs, scam tokens. The markets are presently witnessing the early stages of the much-touted alt season; what remains to be seen is if the 2020 alt season lives up to its precursors.The Present Alt Season
Source: AltcoinDominance TradingView
As Bitcoin slides towards the lower end of $10,000 yet again, dominance follows it. There is a simultaneous increase in altcoin dominance ergo the altcoin market cap, which is another metric to determine approaching alt season.
So, how are the altcoins performing as the alt season begins?
As it stands, the alt season isn’t in a full swing, it has just begun.
Last time Bitcoin saw the mid-60s dominance level was over 220+ days ago, in July 2019.
Dominance is a metric that is used to represent the amount of wealth held in a particular asset. Likewise, Bitcoin dominance represents the amount of total wealth in the cryptocurrency ecosystem that is held in BTC. It is also used to determine the relative health of other coins.
Similarly, altcoin dominance can also be used to determine the flow of wealth into altcoins.
Speaking with AMBCrypto, Joe McCann, a popular crypto trader had a different view on alt season. According to him,
“a 20% to 100% surge from the from the lows after being down 95% from an asset’s ATH does not give me the impression a macro shift is occurring in the altcoin market.”
History of Alt Seasons
There have been a few alt seasons in the past, arguably, the 2017 alt season was the biggest one.