After the rise it experienced at the beginning of the week, Bitcoin (BTC) fell below the $ 30,000 levels again, and many altcoins lost their gains. Investors, on the other hand, are considering different scenarios for the possible altcoin season.
It is generally accepted by investors that crypto money markets are dependent on Bitcoin. When Bitcoin drops, altcoins usually tend to follow, and when a bottom starts in Bitcoin, altcoins are in the consolidation stages of Bitcoin. tends to rise and it’s usually an altcoin mark the season it is thought to do.
Although the current price movements of Bitcoin indicate that the necessary environment for a possible altcoin season is not provided, investors different signifying altcoin season considers scenarios
ETH/BTC
PlanDeFi Twitter user and analyst named for a possible altcoin season in a post he made. ETH/BTC parity 2016-2017 performance 2021–2022He drew attention to a chart that compares it to his performance in .
Very similar isn’t it? Accumulation> Breakout> Ascending Channel> Breakout. It just takes longer to process as the market is bigger now.
The next altcoin season according to the chart july It can start after the month and end of 2022 it may take as long.
fractal
Sharing a chart with historical data of altcoin market cap El_Crypto_Profincluded analysis on the chart that the market may have reached a turning point.
When we consider altcoins, I can see that the scenario I have shared below has taken place. There are a lot of similarities with the previous cycle. The RSI also looks incredible. The next wave will leave many behind.
“Subseason Indicator”
Subseason Indicatorwhen investors “Bitcoin season” when “altcoin season” is an indicator that provides a more metric-based method that it uses to observe what is in it.
Blockchaincenter According to the chart provided by a altcoin season to make it happen 75 The metric that should be over 20 are levels.
According to the historical data of the indicator, the market Bitcoin season from the area in which he indicates altcoin season to rise to the level at least two to three months an altcoin season, given that it continues August or September It doesn’t seem likely to start until next month.