While bitcoin is storming to an all-time high (ATH), Ethereum and many other altcoins continue to trade well below peak levels, leaving crypto community participants wondering when the alt season will begin.
In the crypto industry, the altcoin industry refers to the period of time when alternative coins, altcoins, grow faster than the market’s flagship, bitcoin. BTC is the leader in the capitalisation ranking, which makes bitcoin the most “heavyweight” and therefore the most “sluggish” coin. Lightweight altcoins often outperform the growth rate of the largest cryptocurrency. Therefore, many investors see the altcoin season as an opportunity to make good money. The only question is when it will start.
Crypto trader Mags is confident that altcoins will enter the growth phase as soon as bitcoin updates ATH. Cryptocommunity participants predict a breakthrough of the absolute maximum of the BTC value in the near future.
Against the background of the anticipated start of the alt season, Artem Zeinetdinov advised investors to pay attention to coins of high-growth projects related to developments in the field of AI, meta-universes, tokens of second-level solutions (L2), as well as coins that have a deflationary mechanism “embedded” in them. Here are the cryptocurrencies that our interviewee singled out: Optimism, Arbitrum, Axie Infinity, Decentraland, SingularityNET, IQ, BitTorrent, Bonk, GMT and SATS.
Crypto producer Kristina Belyakova shared a similar opinion. She is also confident that the altcoin season has already started. At the same time, our interlocutor believes that its active phase may start in autumn 2024 and last until 2025.
“In fact, the altcoin season has already started, and the statistics confirms it. Right now, the bulk of fund inflows are still focused on bitcoin and Ether as the two most liquid and highly capitalised cryptocurrencies. At the moment when the price euphoria of BTC and ETH slows down at a certain stage, cryptoinvestors’ funds will start pouring into “interesting projects on the side” – promising altcoins,” our interlocutor believes.
The theory of colleagues about the start of the alt season after the ATH bitcoin breakout was supported by crypto trader CrediBULL Crypto.
A market analyst at CryptoBullet shared a similar opinion. He noted that history is repeating itself. Previously, the bitcoin test ATH has already launched the altcoin season. To confirm his theory, he compared the charts of BTC and the market capitalisation of digital assets.
Discover even more insightful content on our blog.