๐๐ฎ #AltSeason is imminent - Or at least data hints that itโs close! Crypto traders and various metrics suggest an impending altcoin season.
Disclaimer: Investing in cryptocurrencies carries inherent risks. This post is not financial advice. Always conduct your own research and seek guidance from a qualified financial advisor before investing.
Bitcoin (BTC) experienced a sharp correction in the last four days after reaching a new all time high at $73,700 on March 14. Meanwhile, altcoins, particularly memecoins and AI-themed cryptocurrencies, have surpassed BTC's performance over the past week, sparking discussions about the arrival of altseason!
Current data analysis reveals that the total crypto market capitalization has reached $2.5 trillion. Bitcoinโs brief surge above $69,000 on March 16-17 propelled the global crypto market value beyond $2.7 trillion, indicating a bullish trend. According to CoinMarketCap, the global crypto (last 24 h), market cap stands at $2.69 trillion, marking a +2.13% increase over the last day.
Altcoins have shown similar patterns, with their total market capitalization dropping from $1.2 trillion to $320 billion. While we've observed an upward trend in the past day, altseason hasn't quite arrived now.
Conclusion: Despite recent fluctuations and debates, altseason seems to be on the horizon. With altcoins demonstrating resilience and outperforming Bitcoin in certain instances, traders are eagerly anticipating a shift in market dynamics.
Trends after the halving in 2024: The halving event, which reduces the reward miners receive for validating transactions. This event typically leads to supply scarcity, potentially driving up prices. Therefore, following the Bitcoin halving in 2024, we could anticipate heightened volatility and heightened attention on both Bitcoin and altcoins, potentially signaling the onset of a new altseason. ๐ #HotTrends #AltCoins
