Is the Altcoin season really here? Google searches for 'Altcoin' heat up to a seven-year high, primarily sourced from African countries

Google Trends shows that the search volume for 'Altcoin' has reached a seven-year high, but don't get too excited. (Background: Bitcoin's market share has fallen below 60%, creating a six-month low; is a new round of 'Altcoin season' coming?) (Background supplement: Big Broadband announces Bitcoin reserves) Da Feng Electric (6184) hit the upper limit this morning; is the BTC accumulation trend about to sweep the Taiwan stock market?) On August 14, Google Trends showed that the keyword 'Altcoin' is expected to rise to a peak comparison value of 100 points in global trends, marking a new high since the comparison value of 92 points in January 2018. Search popularity reaches a seven-year high. Over the past seven years, every time the Google Trends index approaches 70 points, it is accompanied by significant fluctuations in Altcoins. This time, it surged to 77 points, indicating that investor attention is once again focused on smaller coins. Compared to the ICO boom in 2018 and the DeFi and NFT peaks in 2021, historical experience shows that search volume often precedes price movements. However, it is noteworthy that the top four countries contributing to this month's search popularity are all African nations. Signs of fund rotation emerge. When Bitcoin's market capitalization dominance falls within the range of 59% to 61%, it is generally interpreted as funds shifting from 'big coins' to 'small coins.' Against the backdrop of Bitcoin exceeding $120,000 and Ethereum breaking through $4,500, high Beta Altcoins attract more risk-seeking capital, potentially prompting several hedge funds and market makers to begin adjusting their positions. According to CoinMarketCap's Altcoin index, today it stands at 41/100, indicating that while the total amount of funds in Altcoins exceeds 1.7 trillion, the index statistics are not overheated. Related reports: Do Kwon admits to fraud: I deceived investors who purchased UST/LUNA, I am very sorry... likely to significantly reduce sentence. Fuel and rockets: Why is it said that the engine of this Altcoin bull market is perpetual contracts? 'Is the Altcoin season really here? Google searches for 'Altcoin' heat up to a seven-year high, primarily sourced from African countries' - this article was first published on BlockTempo (the most influential blockchain news media).