An altcoin season occurs when the number of altcoins increases rapidly and astronomically against the dollar and Bitcoin at the same time
What factors can be used to indicate if its an altcoin season?
3 Month Bitcoin Dominance %
Bitcoin dominance % has decreased +/- 7% over the past 3 months.
May 8th 2020
August 8th 2020
3 Month Total Market Capitalization (excluding Bitcoin)
The altcoin market capitalization has increased by $54bn (61% increase) over the past 3 months.
May 8th 2020
August 8th 2020
Which coins indicate it’s an Altcoin season?
Over at the blockchaincenter, the altcoin season index indicates which coins are performed better than Bitcoin over the last 3 months:
What do you think? Are we entering another altcoin season? What does this mean for Bitcoin and for cryptocurrency markets in general?
Thank you for reading and hope you have a good rest of the day!
Resources
https://coinmarketcap.com/charts/
https://www.blockchaincenter.net/altcoin-season-index/
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