Bitcoin Dominance %63.63 at the time of writing this post, which is good indicator that's we are maybe in AltsSeason in case the downtrend continue. One way to try to predict when the next alt season will come is to look at the Bitcoin Dominance chart.
Specifically a downtrend in the dominance chart means alt season is on.
What Altseason is really about?
An Altseason implies that crypto markets are seeing an influx of new investors in the crypto space. Historically, this has occurred when bitcoin has experienced its all-time highs. When the hype around bitcoin grows, droves of people FOMO into the space, looking for opportunities to buy and profit from cryptocurrency. But when bitcoin is in the spotlight like that, the price is also heating up. That adds to the appeal I’m speculating on cryptocurrencies Altcoins give these new traders thousands of choices of cryptos to buy at very low prices.
The new set of cryptocurrency enthusiasts turns to altcoins because of their low price and potential for earning gains.
Have a look at my previous post here from the 7th of January:
https://www.publish0x.com/idee-varie-ed-eventuali/is-it-altcoin-season-yet-xdngxzl
and compare the parameters....in my opinion indeed we are getting day by day closer!
Sources: https://www.blockchaincenter.net/altcoin-season-index/
THIS IS NOT INVESTMENT ADVICE. CAPITAL AT RISK.
