Altcoin season refers to a period in the cryptocurrency market where the prices of alternative cryptocurrencies, or "altcoins," experience significant increases compared to Bitcoin. During an altcoin season, investors and traders often shift their focus away from Bitcoin and allocate their capital towards altcoins, seeking higher returns.
Every alt season, a narrative is set and coins related to that narrative pumps harder. For example in last altseason gaming and metaverse coins pumped so hard. Many of them made 50x to 100x for example $Axs, $Sand, $Mana $GMT, $Mbox, Gala, This alt season of 2024 is all about Meme and Artificial Intelligence coins. Many of Them have stared pumping from 5x to 10x like $Pepe $Bome $Floki $Shib $Doge $Fet $Rndr $Near $Agix $AI $GRT. These coins are my recommendation to hold in this bull market and altseason. I am sure you will make 10x to 100x by smart strategies.
Many things drive the altcoin season. But here are the 3 main Factors to determine Altcoin Season:
Bitcoin Dominance
Bitcoin dominance is the percentage of the total cryptocurrency market capitalization that is made up of Bitcoin. When Bitcoin dominance is low or declining, investors and traders start to shift their attention toward altcoins.
Altcoin Demands
Increasing trading volume for a particular altcoin can indicate growing interest and demand, leading to price increases and potentially an altcoin season. One example of increased demand for altcoins is during the metaverse and NFT trends, where the level of demand for altcoins is also higher.
Market Sentiment
The overall sentiment and perception of the cryptocurrency market also indicate the potential for an altcoin season. If investors and traders feel bullish or optimistic about the market, it may create a more favorable environment for altcoins to rise in value.
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