Crypto analysts are increasingly optimistic about the possibility of a altcoin season, which is often referred to as altseason, in the coming months. This optimism is based on the historical trend of Bitcoin dominance, which currently still dominates the market.
Despite Bitcoin's continued strong market dominance, experts believe that significant changes could be imminent.
Historical Trends and Future Predictions
Historically, rallies altcoin significant spikes often follow notable spikes in Bitcoin dominance. For example, in 2016, 243 days after halving Bitcoin, Bitcoin dominance drops to 63 percent, triggering altcoin season substantial.
Similarly, in 2020, Bitcoin dominance dropped to 47 percent about 245 days after halving, which caused a spike altcoin other major ones. These historical patterns serve as a basis for analysts and investors to predict future market movements.
Currently, more than 90 days have passed since halving Bitcoin 2024, and Bitcoin dominance remains high at 53.9 percent, according to CoinMarketCap data.
Coin Edition reported, this long period of dominance has many wondering when the shift to altcoins will occur.
Crypto enthusiast CryptoBusy suggests that Altseason may not occur until Q4 2024 or early 2025. This timeline is based on the delayed response seen in previous cycles, where market dynamics eventually shifted from Bitcoin to altcoins.
Historical Cycles and Transitions Altseason
Influencers This crypto highlights that historical cycles show delayed but eventual transitions in market dominance.
If Bitcoin follows the same trajectory as halving previously, a substantial decline in its dominance could pave the way for altcoin to rise significantly.
This potential shift has many in the crypto community anxious, waiting for signs of an impending altseason.
One X user added that summer is usually quiet in the crypto space, suggesting that significant market movements are unlikely before Q4. They suggested an approach wait and see, shows that patience may be required for those looking forward to the rally. altcoins.
Observations from Benjamin Cowen
Meanwhile, IntoTheCryptoverse CEO Benjamin Cowen recently highlighted undervaluation current crypto market.
He suggested that a potential spike could occur sometime later in the year. halving or in the first half of the year afterhalving.
Cowen's views add to a growing sentiment that while Bitcoin's dominance remains strong now, change could be on the horizon. [st]