🥺Premature End of Altcoin Season! Here's Why AltSeason Maybe Fizzling Out FAst

The crypto market is shifting, and it’s casting a shadow over the potential for an altcoin season.

Altcoin season, or "altseason," is when altcoins outperform Bitcoin significantly. This shift is tracked by Bitcoin’s dominance in the market and the price performance of altcoins.

Bitcoin dominance measures Bitcoin's share of the total cryptocurrency market cap. During altseason, this dominance drops as investors move capital into altcoins. A significant drop in Bitcoin dominance signals an altcoin season.

Earlier this year, Bitcoin's dominance fell from 54% to 50% in January. However, it has since rebounded, reaching 55% last month—the highest since the March 2021 crash, when dominance fell from 70% to 40%.

Altcoins usually see substantial price increases during altseason, often outpacing Bitcoin. Altseason is typically active when 75% of the top 50 altcoins outperform Bitcoin over three months.

In the last 90 days, only eight cryptocurrencies have outperformed Bitcoin. Even the meme coin hype and spot Ethereum ETF buzz failed to lift altcoins significantly.

Several factors contributed to the premature end of altseason:

1. Bitcoin’s Strength: The rising demand for Bitcoin, especially after the successful launch of a spot BTC ETF, has overshadowed altcoins.

2. Market Conditions: Bearish market trends and broader macroeconomic factors have dampened investor enthusiasm for altcoins.

Predicting the next altseason is tricky due to the inherent volatility of the crypto market. However, a pattern has emerged since 2022:

- August 2022: Second-to-last altseason.

- Six months later: Bitcoin season began.

- January 2023: Most recent altcoin season started.

- Five months later: Bitcoin season again.

If this pattern continues, we might expect the next altseason in approximately seven to eight months, around February 2025.

Looking like crypto degens wont be getting rich quick in 2024!😭😭
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