Altcoins Analysis - Prediction of when ‘Altcoin season’ will start #AltSeason ⚡
🔸 Crypto Alt Season 2024 Is Starting This Week
As far as the Altcoin market goes you are still quite early. Why? Purely because BTC .D is still very high. This means the altcoin market hasn’t even started the ‘mania phase’ yet.
The ‘mania phase’ begins when BTC .D starts to drop sharply. This occurs when market participants are willing to take on more risk and liquidity moves into altcoins from Bitcoin , stable coins and fiat. This increases the market caps of altcoins thus reducing BTC .D.
This doesn’t mean Bitcoin’s price drops. Quite the contrary as Bitcoin will continue in its own ‘mania phase’ to the upside. What it means is, as dominance falls and liquidity flows into alts the market is willing to take on more risk. Hence the reason why BTC.D is always very low at the peak of every market or the end of any ‘mania phase’.
This metric is actually a good indicator to signal a potential market top. As you can see in the chart during every market top BTC.D has been within a range of 35-39%.
What this chart is telling us now is BTC .D is beginning to top out and it will soon begin its decline to the downside. I still think we might have a little more upside before this capitulation of dominance begins. Possibly 58%.
Either way my view is that we are very close to the beginnings of a big altseason and indeed the ‘mania phase’.
At Caesar Capital we will be watching very closely if/when BTC.D enters the ‘Death Zone’ on the chart below as this could be a strong indication of a market top.
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