ALTCOIN SEASON
Altcoins are generally defined as all crypto currencies other than Bitcoin (BTC). However, some people consider altcoins to be all crypto currencies other than Bitcoin and Ethereum (ETH) because most crypto currencies are forked from one of the two. Some Altcoins use different consensus mechanisms to validate transactions, open new blocks, or attempt to distinguish themselves from Bitcoin and Ethereum by providing new or additional capabilities or purposes.
Is It Altcoin Season?
Altcoin season refers to a period when Altcoins (crypto
currencies other than Bitcoin) outperform Bitcoin in terms of price growth. This typically happens after Bitcoin experiences a strong rally or stabilization, and investors start looking for higher returns in other digital assets.
During altcoin season, many Altcoins see significant price surges, driven by market speculation, new technology developments, or community momentum. While it can present opportunities, altcoins are generally more volatile and riskier than Bitcoin.
To identify altcoin season, look for trends where Altcoins consistently outperform Bitcoin in price action. Keep an eye on market sentiment, and remember: timing and research are key to navigating this phase successfully!