Signs of Altseason Starting Soon

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Bittime - The cryptocurrency (crypto) market has experienced ups and downs in recent months. Bitcoin (BTC) and other altcoins experienced a significant price decline from their ATH ( All Time High ). However, experts predict that altseason, a period in which altcoins experience significant price increases, may begin soon.

Here are some signs that indicate an altseason may be starting soon, along with explanations and examples:

1. Bitcoin Dominance (BTC.D) Declines

• Reason: BTC.D Dominance shows the percentage of crypto market capitalization controlled by Bitcoin. When BTC.D's dominance declines, it shows that investors are starting to shift their attention from Bitcoin to altcoins. This can occur due to several factors, such as Bitcoin having reached a high price, investors looking for greater profits in altcoins, or positive fundamental developments in altcoins.
• Current Conditions: BTC.D Dominance is currently below 40%, which is the lowest level since 2020. This indicates that investors are starting to look for opportunities beyond Bitcoin and are turning to altcoins.

2. Altcoin Trading Volume Increases

• Reason: Trading volume shows the number of assets traded in a certain time period. An increase in altcoin trading volume indicates that investors are starting to buy altcoins, which is a bullish sign. This can happen because investors start to be optimistic about altcoins, speculation about the altseason, or the launch of new projects in altcoins.
• Current Conditions: Altcoin trading volume in recent weeks has shown a significant increase. For example, Ethereum (ETH) trading volume has increased by more than 50% in the past month.

3. Altcoins Test Strong Support Levels

• Reason: A support level is a price level at which investors are expected to start buying an asset to prevent further price decline. When an altcoin reaches a strong support level, there is a possibility that the price will rebound and start rising. This can happen because investors see the support level as an opportunity to buy the altcoin at a cheaper price, or because selling pressure begins to decrease.
• Current Conditions: Many altcoins are currently at strong support levels. For example, Ethereum (ETH) is around $2,000, which is a support level that has been tested several times in the past. Cardano (ADA) is also around $0.50, which is an important support level for this altcoin.

4. Market Sentiment Improves

• Reason: Market sentiment shows the level of investor optimism or pessimism towards a particular asset. Positive market sentiment shows that investors are starting to be optimistic about altcoins. This can happen due to positive news about the altcoin, positive fundamental developments, or bullish predictions from experts.
• Current Conditions: Current crypto market sentiment shows a recovery from the previous few months. The Fear & Greed Index shows that the market is in a "fear" phase, but this indicator is starting to show signs of recovery.

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5. Altcoin Fundamental Development

• Reason: Positive fundamental developments, such as new product launches, increased adoption, or technological improvements, can drive altcoin prices higher. This can attract new investors and increase confidence in altcoins.
• Example: Many altcoins have positive fundamental developments. For example, Cardano will launch the Vasil Hard Fork which will increase the scalability and speed of the blockchain. Polkadot has also launched parachains, which allow various blockchain projects to operate on Polkadot.

It's important to remember that altseason predictions are not always accurate. Do your own research and invest only what you can afford to lose.

How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.  

To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Learn  Complete Guide How to Buy Crypto on Bittime .  

Monitor price chart movements of Bitcoin (BTC) ,  Ethereum (ETH) ,  Solana (SOL)  and other cryptos to find out today's crypto market trends in real-time on Bittime. 

Also Read:

Causes of Altcoin Season Lagging in 2024

Tips for Finding Altcoins that will Rise

3 Most Potential Altcoins This Week

DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.