Altcoin Season is likely just around the corner!
Everyone is happy to see bitcoin flying, except those holding mostly other coins besides bitcoin.
Well, they may be in for some celebrating as well in the very near future.
In the crypto markets there is something referred to as Alt Season.
It is a period of time where altcoins (coins other than bitcoin) significantly outperform bitcoin.
The most significant one recently was back in January of 2018 when altcoin valuations exploded. Steem traded up over $9 and was worth over $2 billion dollars briefly.
Will altcoin season happen again?
We can't say for sure, but basically the formula for alt season has looked something like this:
Bitcoin price and dominance level climbs significantly.
The bitcoin rally slows and some of the large cap alts start to out-perform.
Bitcoin starts to pullback or go sideways and the bitcoin dominance level starts to trend down.
Money that was pulled out of bitcoin looks for the next coin to surge...
Mid and small cap coins get bid up.
We have currently see. the first two steps in this process play out already.
The third step may be starting up very soon as well.
Then we are likely to see money start to pour out of the largest caps and try to catch the next big move in the mid and small cap coins.
Hopefully steem is one that gets bid up as well!
Stay informed my friends.
Image Source:
https://www.altcoinbuzz.io/crypto-news/finance-and-funding/is-the-altcoin-season-starting/
-Doc
These cycles are so insane.
Lucky traders get the run up on Bitcoin,
then they get the run up an a big altcoin
then they get another run up on small altcoins
It's absolutely crazy.
It's been pretty predictable. Though January of 2018 seemed bigger than most...
So crazy that it seems like a trap^^
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This is so normal in crypto.
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When BTC finally hits a plateau and starts to pullback is when the alt coins will run again. Alts go down when BTC rises, and then the opposite happens. Alt coin season may still be a few weeks away. We need to see how high BTC will go first. But Altcoin season will be huge in my opinion. BTC dominance is already 58%.
Same thing happened Dec 2017. BTC hit new ATH, Alt coins tanked. Then when BTC started to correct, Alt coins shot to the moon. Same will happen again.
It's possible and I am hoping history repeats yet again.
Alt season is more like a deep freeze 🥶
Haha, it is just starting. be patient corndog.
i own no BTC but am very happy to watch it skyrocket to me that means freedom and liberty is alive and well and people are waking up
i have no cash coins only security tokens and tokenszation assets
great post and i have added you to my followers a while back and keep up the great work i see you doing here
peace and be well bud
Plus I am sure that the higher btc goes, the more money will bleed over into other crypto assets. It's good for the entire ecosystem.
totally agreed and that is another reason i like to see BTC fly even though i will not own any
i will keep an eye out for your posts
you sound like you know whats happening here
What tokens do you own?
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Thanks.
What is you view for the next alt season?
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I think the current one won't be a huge one. Nothing like January of 2018. However, I think once bitcoin settles down and makes another big move up, after that next big move, I think that alt season will be a big one. Especially when bitcoin eventually makes new highs. Lot of new money will be flowing in then. Alts will likely benefit big time.
I share the same view. Don't expect too much this time, but will be fun
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Yea I don't see January of 2018 repeating this time around, but we may get something like that again once bitcoin makes new all time highs and then pulls back a little...
GET THOSE ALTS BEFORE IT'S TOO LATE
Which ones???
$HOT
Not steem?
That too although I wouldn't go all in on one single thing
Gotta love steem with the ability to keyboard mine!
I think this altcoin season will be more selective as many investors were burnt with the ICO hype last year! Only those making progress with adoption and development will likely be rewarded!
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Will steem be one of those?
I would think so given the development here in the last year but I am somewhat biased!
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Yep, I think everyone here is... the numbers are dwindling as of late on steemit.com...
Hi jrcornel! I love your posts. You're one of the few that I follow anymore on Steemit.
Yesterday it occured to me that I am wasting my witness votes by not ever voting, but I have no idea of who to vote for. I decided to delegate my witness votes to you since apparently you pay a lot of attention to what's going on with steem and I agree very strongly with your idea of ad revenue sharing to attract new talent to Steemit. You probably know better than I do as to who to vote for to make things like that happen so here you go!
If you aren't going to use them then please just let me know and I'll do something else with them.
Thanks for all of your great posts! Keep them coming!
Sure thing. Thanks for the support!