How does altcoin season happen?

That's when holders get frustrated holding coins that have dropped 50% or even 80%. Then they need money, sell off at a loss.

Then one day, one by one, coins start to rise 30% or even double.

Holders who sold shake their heads thinking it's just a dead cat bounce and it'll dump again.

A few days later, it continues to rise. In the blink of an eye, in a week it has doubled or tripled.

At this point, holders think that there's only a chance to FOMO at the peak, and so for the following weeks, every candle doubles.

Looking back, it has increased tenfold from the bottom.

At this moment, holders are too anxious, putting all their money in.

A few days later, the price doubles or triples again. The holders are so happy, thinking it will keep rising, so they borrow to buy more.

At this point, buying guarantees profit but they don't take profits, and then it drops.

Holders think it's just a correction and then... it continues to drop for 3-4 years.