Altcoin 'seasons' are characterized by:
1. A sharp drop in Bitcoin Dominance
2. A parabolic rise in the value of altcoins.
Judging from the chart, there have been four major altcoin seasons:
1. March 2017
2. June 2017
3. January 2018
4. May 2018
Since May 2018, Bitcoin dominance has been steadily on the rise - as Bitcoin has first fallen in price, then had a sustained rally from April 2019, leaving most alts in the dust.
So, when altcoin season again?
Note that we are approaching the 65% dominance level - and that this is also where Bitcoin dominance peaked in October and November 2017, before giving way to the most recent altcoin seasons in January and May 2018. This is also the level that Bitcoin dominance dropped to during the June 2017 altcoin season.
TLDR: Altcoin season may be upon us soon - perhaps as soon as when Bitcoin dominance reaches 65% again. Alternatively, Bitcoin may barge through that area and go even higher (perhaps to around the 72% area we touched on twice in June 2017), before finally dipping to create the Alt season that traders are looking for.
Happy trading - and please leave a LIKE if you enjoyed this analysis :)
1. A sharp drop in Bitcoin Dominance
2. A parabolic rise in the value of altcoins.
Judging from the chart, there have been four major altcoin seasons:
1. March 2017
2. June 2017
3. January 2018
4. May 2018
Since May 2018, Bitcoin dominance has been steadily on the rise - as Bitcoin has first fallen in price, then had a sustained rally from April 2019, leaving most alts in the dust.
So, when altcoin season again?
Note that we are approaching the 65% dominance level - and that this is also where Bitcoin dominance peaked in October and November 2017, before giving way to the most recent altcoin seasons in January and May 2018. This is also the level that Bitcoin dominance dropped to during the June 2017 altcoin season.
TLDR: Altcoin season may be upon us soon - perhaps as soon as when Bitcoin dominance reaches 65% again. Alternatively, Bitcoin may barge through that area and go even higher (perhaps to around the 72% area we touched on twice in June 2017), before finally dipping to create the Alt season that traders are looking for.
Happy trading - and please leave a LIKE if you enjoyed this analysis :)
Comment:
Seem Ethereum 2 did provide the catalyst for this alt season!
Here is an alt season updated chart for this cycle:
Here is an alt season updated chart for this cycle:
Perhaps a development like Ethereum 2 could set the stage...