CandleFocus

Altseason alert: Here’s why Altcoins are about to boom

Author: Content Editor
The cryptocurrency market is experiencing a bullish momentum, particularly in altcoins, as the total capitalization of all cryptocurrencies excluding Bitcoin and Ethereum has broken out of a six-month downtrend. The TOTAL3 crypto index, which combines the market cap of all altcoins, reached a capitalization of $614.64 billion, signaling the start of an altseason. Bitcoin and Ethereum, on the other hand, are struggling within their own downtrends, suggesting that altcoins may outperform them. The altseason theory is further supported by technical indicators, such as the approaching bullish golden cross of the 30-day and 180-day exponential moving averages. However, caution is advised, and further validation is needed to confirm the trend shift. Building a solid portfolio and having a clear strategy are crucial to navigate the potentially increased price volatility during this altseason.

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