šAnalysts are calling for the "alt season" again, are you ready?
Recently, cryptocurrency market analysts have been poring over charts like detectives, looking for signs that altcoins are about to explode in the fourth quarter. But so far, these altcoins are just following the pace of Bitcoin.
Just yesterday, Glassnode co-founder "Negentropic" said on social media X that altcoins usually follow the pace of Bitcoin. He also believes that we are on the verge of alt season, and once Bitcoin breaks its previous high, altcoins may take off.
But Bitcoin is now about 14.5% lower than its all-time high, while most altcoins have fallen even more, by more than 50%. However, September is Bitcoin's best performing month so far, with a maximum increase of 7.71% this month, and September in previous years is usually bearish.
Other analysts predict that Bitcoin's dominance may have peaked and the biggest altcoin season will begin in 9 days. If it does start to decline as expected, it will be great news for altcoins. Moreover, there have been big outbreaks of altcoin seasons in 2017 and 2021 in history, so will history repeat itself this time?
In addition, according to Tradingview data, Bitcoin's market share has reached its highest level in three and a half years, 57.52%. Some analysts believe that BTC's market share may have reached its peak. If the market share falls below 50% in the coming days, it will undoubtedly be good news for altcoins.
Therefore, this may be a rotation cycle for Bitcoin, with Ethereum rising first, then large-cap altcoins, and finally small-cap tokens. They feel that the altcoin season may be around the corner.
š¬ What do you think? Do you think this will be the "biggest altcoin season"? Or do you think Bitcoin will continue to lead the way? Come to the comment section to share your predictions, let us witness the arrival of this moment together!
