[Cryptocurrency analyst Jason Pizzino said: The large-scale alternative currency season has not yet arrived]
Renowned cryptocurrency analyst Jason Pizzino believes that despite the current strong performance of some digital assets, the real altcoin season is expected to arrive in October 2024. He told a strategy session to his 293,000 YouTube subscribers that the prediction is based on Bitcoin’s (BTC) halving cycle, which occurs every four years, with the next one expected in April 2024.
Pizzino noted that the gains in the current market, while impressive, are not what a massive altcoin season would bring. Based on his analysis, he believes that previous Bitcoin bull market cycles usually lasted three years, with the first 18 months confirming a bullish trend and the last 18 months achieving huge gains. He mentioned that altcoin season usually starts in the second half of the year after the Bitcoin halving event.
Pizzino also noted that Ethereum (ETH) experienced initial gains in both 2016 and 2020, the years of Bitcoin’s halving, before experiencing greater growth during what he called altcoin season. Taking 2020 as an example, ETH is up 1,300% since October, growing 277% from low to high.
He also observed similar price patterns at Ethereum rivals Solana (SOL) and Cardano (ADA). In 2020, Solana was up 20,000% from October, while Cardano was up 3,400% from its peak in October of the same year. He sees the data as evidence that the market is ready for a breakout.
