CandleFocus Waiting for altcoin season: Why recent rallies may just be strong bounces
2024-09-26
Author: Content Editor
The total crypto market cap has increased by almost 20%, reaching $2.35 trillion, with altcoins contributing to about 40% of the gains. However, to determine an altcoin season, an index suggests that three-quarters of the top 50 coins must outperform Bitcoin over 90 days, which is currently at 34%. Another model considers the market cap growth of the entire crypto market, excluding the top 10, in comparison to Bitcoin for at least 90 consecutive days. Based on this model, there have been three altcoin seasons in the past eight years, and the current cycle is still far from an altcoin season. Altcoin prices have bounced back recently, but some believe that altcoin season will only happen after the bull market ends, while others think that it could be the most powerful altcoin season ever.
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