CandleFocus Altcoin Season Expected by November End: Analyst Says ‘Buy and Hold’
2024-11-09
Author: Content Editor
Altcoins have been surging alongside Bitcoin, leading to speculation about an upcoming Altcoin Season. Analysts have noted that Bitcoin's dominance is nearing a bearish MACD crossover, which historically indicates the beginning of an Altcoin Season. This shift is believed to be driven by the post-election atmosphere and may lead to a phase where altcoins outperform Bitcoin in terms of growth. Some analysts recommend buying and holding altcoins through November, anticipating continued gains. However, the Altcoin Season has not yet fully materialized, as only 19 altcoins are currently surpassing Bitcoin in gains. For AltSeason to officially begin, 33 altcoins would need to show stronger growth than BTC. If institutional interest in Bitcoin intensifies, it could delay the Altcoin Season until 2025 or keep altcoin growth in check.
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