Is An Altcoin Season Brewing?
CryptoNewsTerminal Staff05 Sep, 2024
Is An Altcoin Season Brewing?
According to numerous analyst statements cited by BeinCrypto, Bitcoin's recent bearish trend has shifted focus toward altcoins, fueling speculation of an impending "altcoin season." This refers to a market cycle where altcoins outperform Bitcoin and Ethereum in terms of investment returns. Mags, a crypto analyst, noted that "many major altcoins are trading between 60-80% of their previous all-time highs." Additionally, the market capitalization of the top 125 cryptocurrencies, excluding Bitcoin, as tracked by TOTAL2, has remained above its ascending trendline. If this trend persists, "we could see one of the greatest alt seasons ever."
