đHas the altcoin season ended early!!!
â Altcoin season, also known as â#altseason â, is a period in the cryptocurrency market where altcoins significantly outperform #bitcoin .
âȘThis phenomenon is determined primarily by monitoring two main indicators: Bitcoin dominance and altcoin price performance.
đBitcoin dominance #BTC refers to the percentage of the total market capitalization of cryptocurrencies held by Bitcoin during the alternative season. This dominance decreases as investors shift their capital from Bitcoin to different alternative currencies.
The significant decline in Bitcoin dominance indicates that altcoins are gaining greater market share.
This decline was last observed in January this year when #BTCâïž dominance dropped sharply from 54% to 50%. However, since then, the dominance has observed an upward trend, reaching 55% in the past month.
đŽ Therefore, if this pattern continues, investors can expect the start of the altcoin season in approximately seven to eight months. This puts the likely schedule for the next alternate season in February 2025.
