SIGNS OF ALTCOIN SEASON STARTING
Altcoin season is a period of time when altcoins experience significant price increases and market capitalization gains relative to Bitcoin (BTC). Here are some common signs that may indicate the start of an altcoin season:
Market indicators
1. Decline of BTC dominance:
The decline in Bitcoin's market dominance, which is usually below 40%, could indicate a shift in investor interest in altcoins.
2. Altcoin market capitalization growth:
The increase in the total market capitalization of altcoins could signal growing interest and investment in alternative cryptocurrencies.
3. Increase in trading volume:
Increased trading volume across altcoin markets could indicate increased activity and interest.
Price Action
1. Altcoin price breakout:
A sudden, significant increase in the price of an individual altcoin or group of altcoins can be a sign of increased interest and investment.
2. Relative Strength Index (RSI):
Altcoins with high RSI values (above 70) may indicate overbought conditions, while low RSI values (below 30) may indicate oversold conditions.
3. Moving average:
Altcoins with rising moving averages (e.g. 50-day, 200-day) can indicate bullish momentum.
(do your own research, set clear goals and manage risks)
