Is it alt season

is it alt season

Most altcoins easily did 10x to 50x of the initial investment. FOMO was real and most of the Initial Coin Offerings [ICOs] in 2017 caused a chain reaction of an influx of capital from around the world. This is what made the altcoins ‘moon’ and also caused a lot of naive investors to lose millions.

Based on the altcoin surges and the Bitocin dominance, there have been 5 alt seasons in total. The crypto-ecosystem might have already embarked on the 6th alt season.

Source: BTC.D TradingView

Typically, during an alt season, users buy alts dirt cheap, as Bitcoin dominance collapses; the alts have room to push higher. When they do, alts can be converted into BTC, thus increasing the initial capital for massive profits. As seen in the above image, every time Bitcoin dominance dips, alts surged.

Is it alt season

I do think there will be an alt season of sorts but this would be a real, real heartbreaker for some.

As i say, i doubt it but… its there and possible. pic.twitter.com/hOuBOlmvjW

— f i l ₿ f i l ₿ (@filbfilb) January 4, 2021

According to a popular analyst on Twitter, Bitcoin’s dominance seems to be facing a critical resistance level at around 71.5%. This point hasn’t been cracked since 2017 and would indicate that alt season will have to wait longer. It’s also important to note that Bitcoin’s dominance percentage currently cannot be directly related to the past as the cryptocurrency market has thousands of other coins and tokens that are inflating the altcoin market capitalization.

A breakout of 71.5% would be devastating for many altcoins as many investors are already worried due to the SEC.

Is it alt season now

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  • Alt Season is one of the most financially beneficial points in the crypto cycle
  • Alts run after Bitcoin has settled down after a big move, but it doesn’t last forever
  • How can you tell when an alt season is over?

Timing the end of a market cycle is the secret to trading on all time frames, particularly so in an alt season. You don’t want to have stacked a whole load of BTC through alt coins only to lose it because you mistime the move back into BTC. but how can you tell when an alt season is coming to an end and it’s time for Bitcoin to take center stage again?

Bitcoin Dominance Key to Alt Season

When trying to determine the end of a market cycle, what you’re looking for is a particular candle or pair of candles that usually defines the end of that cycle.


Secrets believes that we are currently in a transition phase between Phases 1 and 2, with BTC and ETH slugging it out for supremacy following Bitcoin’s monster move in 2020.

Those looking at the Ethereum chart may be tempted to think that we are however already in the throes of Phase 2 and perhaps coming to the end of it, which is perhaps understandable if you look at the ETH/USD chart, which has seen ETH double in value in the last three weeks alone.

The important thing to remember however is that when it comes to alt coins, Secrets’ guide refers to BTC charts rather than USD charts.

Is it alt season yet vlog# 92

Definition:

Alt season is a shortened form of the term ‘altcoin season.’ It is a type of cryptocurrency market cycle where the price of altcoins increases relatively quickly. This price movement can occur with or without the influence of Bitcoin’s dollar value. During this market cycle, the price performance of altcoins also usually exceeds that of Bitcoin.

Explanation:

Generally, the price of altcoins tends to be stagnant or very slow-moving.
However, once in a while, the value of all altcoins will increase quickly in a short period of time.

The duration of this market cycle varies, lasting anywhere from a few days to several months. As a result of this uncertainty, many investors try to maximize their profits during this time. The rate and intensity of the price increase during alt season also varies significantly.

Is it alt season yet crypto gift cards

Trustworthy Crypto states that the BTC DOM alleviation rally can note an all-time low for altcoins and also the start of a brand-new period, as he expects the index to proceed its downtrend.

In accordance with his forecast, the crypto investor includes that he expects these coins to rally in the midterm before managing one final rise in the following 6 months. In between both rallies, Credible Crypto claims that he sees them trading within a wide range.

The Altcoin Season Index tracks whether market belief factors in the direction of Bitcoin or altcoins.

If 75% of the Leading 50 coins carried out far better than BTC over the last period (90 days), then the index considers it to be altseason.

Savvy crypto traders can use this index to make decisions on whether they should move their funds in or out of Bitcoin.

Duration of the phases are parabolic meaning first takes longest & last goes fastest. Phases overlap & can temporarily reverse. We are in Phase 1 & transitioning back & forth between Phase 1 & 2. Prepare accordingly pic.twitter.com/1kyKIItagg

— Secrets (@SecretsOfCrypto) January 10, 2021

Secrets Illustrates 4-phase Market Cycle

Secrets’ alt season guide needs little further explanation from us – there are four distinct phases from a Bitcoin move to a low cap pump with two distinct phases in between.
What is worth discussing however is where we are in the cycle.

Is it alt seasongo

From the desk of Steve Strazza @sstrazza and Louis Sykes @haumicharts

Are we finally entering the long-awaited alt-season?

We’re seeing incredibly healthy rotation within the Cryptocurrency space, which we can only interpret as support for higher prices for this group of digital assets moving forward.

We’ve been bullish on Bitcoin $BTC and crypto since last summer when BTC was near 10,000.

Here’s a post in October where JC outlined that the path of least resistance was higher in BTC, and another in December where we outlined a target, which was hit in a matter of days.

Is it alt seasoning

However, the sudden price movement has financial journalists at a loss in their efforts to find a convincing catalyst. The above-linked MarketWatch article doesn’t even make an attempt to explain the fundamentals.

Many of you will recall the anomaly of April 20, 2020, when the sudden lack of demand for transportation caused crude oil futures to go deep negative for several hours.

Honestly, the fear of missing out (FOMO) that we’re seeing from overzealous traders almost makes it seem like hedge funds are stocking up in preparation for Armageddon.

Alt season dead?

As bitcoin once again crossed $1 trillion in market capitalization, the glaring question crypto traders want to answer is whether alt season is over.

Initial results for the ongoing poll I’m running on Twitter indicate that it is not.

Is it alt seasonx

Naturally the candles will look different depending whether you are looking for the end of a bull or bear market, but the principle is the same. In terms of an alt season we are looking for a bottoming candle on the Bitcoin dominance level.

Bottoming candles are typified by having a long trailing wick and come after a period of downwards movement. The long trailing wick is indicative that this price has proved tempting to buyers who have stepped in and driven the price back up, setting up a reversal:

The other type of bottoming candle we can look for is called a tweezer bottom.

Tweezer bottoms are two adjacent candles that again occur after a downtrend and share the same low point:

As we can see, in both instances these candle combinations precipitated an upwards movement.

It has been the case since the first alt season.First Alt Season

The table showed how massive the rally was in the first and the second alt season [December 2017 to January 2018]. However, the combined rallies didn’t stand a chance against the individual rallies. XRP surged by a whopping 52,297% in over a year.

Source: CryptoCurrencyChart

Altcoins rallied to a much greater extent than Bitcoin.

All of the altcoin rallies began right after Bitcoin dominance collapsed.

Joe McCann further added that,

“Alt season was a moment in time and was fueled by the ICO boom. There will never be an alt season like the one in 2017 until there is an ICO 2.0 movement that hits the market, assuming a 2nd iteration of the ICO is ever invented.”

Successive alt seasons were witnessed every time Bitcoin dominance dropped, thus leading to an alt season.

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