If we can believe the popular analyst Rekt Capital, a brand new “altseason” is just around the corner. These are the moments during a bull market when altcoins outperform Bitcoin. On March 11, Rekt Capital noted that the market cap of altcoins “has been the only constant” during Bitcoin’s erratic price movements.
When will altcoins rise?
Industry traders keep a close eye on the market caps of altcoins because, in theory, they offer great opportunities.
Historically, altcoins start performing later than Bitcoin and charts such as the total market cap for altcoins and Bitcoin’s dominance can be important signals for the start of an altseason.
Although altcoins are not here yet, many analysts are currently eyeing Bitcoin’s dominance. Since September 2023, it has been above 50 percent again and is currently even 54.5 percent according to Tradingview.
According to popular analyst Crypto Nova the moment for altcoins is there when Bitcoin’s dominance starts to fall, instead of rise.
I believe in a new altseason
The technical analyst Titan of Crypto sees opportunities for a new altcoin season. “I personally believe there will be another altseason,” said Titan of Crypto.
He bases that claim on the Ichimoku indicator from the technical analysis. According to him, this will play a major role in blocking Bitcoin’s dominance, which could start an altseason.
Also fellow analyst Kevin Svenson saw earlier this week that the market cap for altcoins is “well positioned” for a massive bull run. “People often forget that the narrative shifts to altcoins after the Bitcoin halving.”
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Source: https://newsbit.nl/analisten-geloven-in-snelle-start-van-een-nieuw-altseason/
