According to Blockworks, fake news during the pandemic led people to mistakenly believe that nature was recovering. Today, the crypto market is looking for similar signals, looking forward to the return of the altcoin season.
Altcoin season is defined as when altcoins outperform Bitcoin in market capitalization for more than three consecutive months. Currently, the altcoin market just recorded its best weekly performance so far this cycle, with market capitalization increasing by 13.9%, while Bitcoin's market capitalization fell by 0.3%.
The altcoin market has doubled in value over the past five weeks. If the market value grows by about 20% again, the first condition for an altcoin season will be met.
