Bittime - Altseason or altcoin season began to be discussed, especially related to when the altcoin season began. But before that, it's worth understanding what exactly is Altseason and why is it important? Let's get into the following altseason discussion!
What is Altseason?
Altseason is a period when altcoins (alternative coins), the name for all cryptocurrencies other than Bitcoin, dominate price increases compared to the "king" of cryptocurrencies, namely Bitcoin. Investors will see price spikes in various altcoins, even surpassing Bitcoin's performance.
Interestingly, the trigger for Altseason is not as simple as the price of Bitcoin going down and then another altcoin going up. In fact, Bitcoin often brings altcoins up along when trends are positive, but can also drag them down during major corrections. Then, What is the importance of Altseason?
Much like stock investors diversifying their holdings in various sectors, Altseason gives crypto investors the opportunity to expand beyond Bitcoin. This creates dynamism in the realm of crypto investment, opening up opportunities for profit and portfolio diversification.
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When Does Altseason Start?
Predicting Altseason is tricky, but there are a few factors that can be clues:
The Decline of Bitcoin's Dominance
As Bitcoin's dominance in the market shrinks, this could signal the beginning of Altseason. For example, in the 2017-2018 Altseason, Bitcoin's dominance fell to 37.84%, paving the way for altcoins to shine.
New and Trending Coins
The launch of new coins and trending crypto projects can attract investor interest and trigger Altseason. The price surge of new altcoins on the longest Altseason (December 2020 - May 2021) is proof of this.
Investor Behavior
Fear of missing out (FOMO) and huge profits from Bitcoin could push investors into the altcoin market, thus triggering Altseason.
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Market Sentiment and External Factors
General market sentiment, regulatory news, technological advances, and macroeconomic factors can also influence the start of Altseason. Therefore, it is important for investors to monitor these things.
Lessons from the Past
Historical trends and "mini-altseasons" in the past, such as May 2018 and April 2019, can be a provision for recognizing potential triggers for the next Altseason.
Altseason According to Crypto Academy
On May 27, 2024, through its YouTube channel, the Crypto Academy judged that Altseason has actually begun. This is marked by the rise in the price of Ethereum (ETH) which surpassed the performance of Bitcoin (BTC) in recent days. While BTC is sideways and there is no high selling pressure, it means that this is a positive sideways movement.
Therefore, the Crypto Academy revealed that ETH's outperformance over BTC has the potential to trigger a rise in other crypto assets including layer2 tokens, memecoins, and AI tokens. Based on historical data, the altseason starts after 240 days after the halving and its correlation with the parabolic rise of altcoins.
Conclusion
By understanding Altseason and its triggers, crypto investors can be better prepared for this lucrative investment opportunity. However, keep in mind that crypto investment comes with high risks. Always do careful research before deciding to jump into the altcoin world!
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How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and secure way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered by Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum asset purchase at Bittime is IDR 10,000. After that, then you can make a crypto asset purchase in the application.
Learn the Complete Guide on How to Buy Crypto on Bittime.
Monitor the 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.
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DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.
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