An unprecedented altseason is shaping up according to the data
A historic signal: the start of altcoins?
The crypto market is going through a crucial period, and industry analysts are holding their breath. A historic signal, observed only twice in the last eight years, seems to indicate an imminent altseason. For investors and crypto enthusiasts, this news could redefine short-term opportunities.
Analyst TechDev, followed by nearly 500,000 followers on platform X, where Elon Musk aims to reduce "negativity," does not hold back: altcoins are about to take center stage in crypto.
Based on previous cycles from 2017 and 2021, he highlights an intriguing model. According to him, a six-month candle on the Bitcoin chart, after breaking above historical highs, systematically marks the beginning of an altcoin boom.
These cycles, closely linked to Bitcoin's dominance (BTC.D), reveal a key dynamic. When this metric declines, the market share of altcoins increases dramatically.
The phenomenon also seems to be related to Bollinger Bands, a well-known technical indicator. TechDev notes that when Bitcoin reaches the upper limit of these bands on a weekly chart, altcoins generally experience spectacular momentum.
Towards an explosive altseason?
The TOTAL2 chart, which measures the market capitalization of all crypto assets excluding Bitcoin and stablecoins, suggests an imminent explosion. Currently valued at $1.476 trillion, this market could soon reach new highs.
For prudent investors, this altseason could represent much more than just a simple profit opportunity. It signals an evolution of the crypto market towards greater diversification, where altcoins gain in maturity and relevance. Meanwhile, MicroStrategy plans $2 billion to strengthen its position in Bitcoin