Altcoin Season 2021 | How soon is the altcoins season coming? #altcoinseason #altcoin
Altcoin Season Coming?
What is an Altcoin Season? If 75% of the Top 50 coins performed better than Bitcoin over the last season (90 days) it is Altcoin Season. On this episode, we discuss if altcoin season is a thing, and if it’s coming soon.
Whenever the BTC.d chart is pointing up, the trend is particularly towards Bitcoin and more capital is flowing in its direction. However, in the current bull cycle in 2021, the 47.75% mark is a turning point, as the graph illustrates.
With Bitcoin hitting $ 67,000, the chances are high that BTC dominance will break the 47.75% mark. As a result, it may take another 2-4 weeks for the market to confirm the arrival of the altcoin season.
Conversely, if BTC.d declines from current levels on the weekly chart and Bitcoin consolidates in the USD 62,000- $ 66,000 range, capital will flow into altcoins. This will improve the chances of an altcoin rally.
It’s still early to predict altcoin season as Bitcoin has just hit a new ATH. While BTC is expected to continue to grow on the chart over the next few weeks, many altcoins will stall before bitcoin’s momentum shifts onto them.
All in all, monitoring the BTC.d chart is essential, especially if the entry points for altcoin need to be well timed in volatile market phases.
#alts #coin #market