The cryptocurrency bull market has begun, and the altcoin season is coming

As 2024 approaches, the cryptocurrency market is experiencing a new round of bull market, especially the altcoin market shows significant signs of activity. Here is an analysis of the current market trends:

1. Bitcoin's dominance declines, and altcoin market capitalization rises

The decrease in Bitcoin's market share usually signals the arrival of altcoin season. According to an analysis by Cryptomaniaks, Bitcoin's share in the total value of the cryptocurrency market has decreased, which may indicate a surge in altcoins. Additionally, a report from IntoTheBlock also noted that altcoins have reclaimed a significant portion of the overall market share, which is a major sign of the arrival of altcoin season.

2. Technological innovation drives the popularity of altcoins

Advancements in blockchain technology can enhance the popularity of altcoins. Crypto Adventure mentioned that if a particular altcoin introduces significant technological improvements or innovations, it may attract considerable attention and investment.

3. Predictions and performance of the altcoin season

The analyst team at Bankless has predicted the price trends of several altcoins, stating that since the start of the altcoin season in November, there has been a bullish outlook for the price trends of 10 altcoins over the next three months. Furthermore, data analysis from PANews shows that nearly 60% of tokens have doubled in price within the month, indicating a collective upward trend in the market.

4. Signals of the altcoin season

Analysts have pointed out several signals worth noting for the arrival of altcoin season, including the decline of Bitcoin's dominance, changes in the ETH/BTC ratio, USDT.D, and liquidity flows. In particular, the rise in the ETH/BTC ratio may indicate the arrival of altcoin season.

5. The impact of policies and market sentiment

With Trump's victory, the market began to position itself for potential policy benefits, and U.S. crypto assets may receive capital gains tax exemptions. This news immediately attracted the attention of traditional funds. Against this backdrop, U.S. crypto projects with strong regulatory compliance and backgrounds from traditional institutions have become a focal point for institutional investors.

6. The potential and opportunities of altcoins

It is expected that altcoins will bring many interesting opportunities to the cryptocurrency market in 2024, especially for those altcoins with strong fundamentals and positive price trends. $LPT #LPT/USDT