The post Bitcoin Dominance Peak: Is Altcoin Season Here or Still a Long Way Off? appeared first on Coinpedia Fintech News
The crypto market is on fire after Trump’s victory in the US election, and Bitcoin (BTC) just shattered its all-time high, reaching a massive $89,956. However, Bitcoin’s dominance is nearing its peak after the halving event, and investors are now eyeing smaller altcoins. Prominent crypto analyst Cryptojack highlighted a pattern of Altcoins taking turns leading the market, suggesting that an altcoin season is just around the corner.
Altcoin Season Nearing Again?
According to his analysis, past patterns show a recurring cycle between Bitcoin’s dominance and altcoin rallies. His analysis highlights the time intervals between Bitcoin’s peak performance periods and subsequent altcoin surges, showing that altcoin seasons typically follow significant drops in Bitcoin dominance.
For example, the data shows that after Bitcoin’s price has risen for roughly 1065 days, the market often experiences a period where altcoins outperform. In past cycles, this trend has followed a substantial decline lasting around 330 to 340 days, as seen in both 2018 and 2022.
Right now, we’re approaching the end of another Bitcoin dominance phase that has lasted 1,066 days, which hints that a new “altcoin season” could be close.
This expected shift is exciting for investors who are looking to diversify beyond Bitcoin and waiting for the beginning of the alt season.
True Altcoin Season Is Far Away
On the other hand, well-known crypto analyst Miles Deutscher states that the true altcoin season is still far off. He explains that the current market is just a “warm-up” for a bigger period of altcoin growth. Deutscher’s analysis uses the Altcoin Season Index, which shows how well altcoins are doing compared to Bitcoin.
Right now, the index is at 33, which is far below the 75 mark that usually signals a true altcoin season.
Deutscher’s view fits with past patterns, where Bitcoin often leads the market before altcoins have their big surge. While there is no guarantee of timing, the 75-point mark on the Altcoin Season Index serves as a benchmark for many analysts.
