Altseason: 5 surefire ways to tell it has arrived

By Mary Thibodeau

Altcoin season can mean many things to different people.

To the crypto bag holder, it means a joyful time of reaping gains on their beloved altcoins.

But to the bitcoin maximalist, it’s more a time for public disdain on crypto Twitter. And of course, there are many people in between who love to dabble in altcoins.

What’s an altcoin?

Any cryptocurrency other than bitcoin is considered an altcoin. Some of the most famous altcoins to date include Ethereum, Litecoin, XRP, and Tether (USDT). From mining coins and stablecoins to utility or security tokens, there’s an altcoin that plays to almost anyone’s imagination.

What Altseason is really about

An Altseason implies that crypto markets are seeing an influx of new investors in the crypto space. Historically, this has occurred when bitcoin has experienced its all-time highs.

When the hype around bitcoin grows, droves of people FOMO into the space, looking for opportunities to buy and profit from cryptocurrency.

But when bitcoin is in the spotlight like that, the price is also heating up. That adds to the appeal I’m speculating on cryptocurrencies Altcoins give these new traders thousands of choices of cryptos to buy at very low prices.

The new set of cryptocurrency enthusiasts turns to altcoins because of their low price and potential for earning gains.

Important note* Altcoins, like every season, come and go. When they go, they often leave a lot bewildered, brand new traders still holding the bag – if they’re lucky. The whole point is that by the next season they’ll be ready, with hopefully fewer chances of getting “rekt”. One thing that the crypto community is especially good at is creating educational content.

There haven’t been too many altcoin seasons, with the most memorable one taking place in 2017. But each time it happens, you also have all the altcoin diehards that onboarded during the last altseason. They are ready and always waiting for the next big season. When it comes, they’ll be ready to dust off their bags and get ready for some trading. Because they know that the biggest gains on altcoins are made during the heat of altseason.

There are some tell tale signs that indicate an altcoin season is in full force. We’ve listed five of them here so you can be on the alert for when the next altseason is upon us.

5 Surefire Ways to Tell if it’s Altseason

Retail trading surges. Easy to use trading platforms like Robinhood is often the first stop for newcomers entering the crypto space during a blossoming altseason.

The Altcoin Season Index is up. Yes, there’s an index specifically for detecting an altcoin season! One of the most important determining factors is the percentage of altcoins that are up against BTC over the last three months. If the percentage is 75%, get your bags ready!

XRP Army is Activated. Suddenly, XRP and Ripple fans are everywhere, quoting “XRP to the moon” memes while scoffing at every other crypto in the universe.

Trading predictions slide over to altcoin pairs. Prediction platform HedgeTrade has noticed that during altcoin season, traders tend to make more predictions on altcoin trading pairs over BTC pairs. You also see the prediction expiration dates grow shorter “mid-season”, as crypto aficionados are often looking for quick gains.

Bitcoin dominance wanes. Altcoin prices tend to stay low when bitcoin dominance is holding steady or increasing. When it’s on a downtrend, however, it’s time to watch out for an incoming altcoin season. The biggest altseason that ever happened occurred when bitcoin dominance hit the 50% mark.

The future of altcoin seasons

Altseasons of the past can’t really compare to the kind of season we could have in the coming few years. Despite having endured a long bull market, crypto markets have seen a rapid expansion of exchanges, wallets, and supporting services.

Institutional interest has reached new heights and stablecoin trading volumes have hit multiple all-time highs in 2020. The next altcoin season may truly be something to behold. And lucky for you, now you know exactly how to detect the next altseason.

Bio:

Mary Thibodeau is a digital entrepreneur and author based in Maine with years of expertise in creating and implementing content strategies for blockchain technology and cryptocurrency startups. She most enjoys exploring the bridges between mainstream finance and the cryptosphere and is always ready to ‘take the leap’.

Prepared by Patrick O’Brien

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