Dear friends in the cryptocurrency circle, are you tired of Bitcoin's one-man show? Don't worry, let's talk about the altcoins that may soon shine on the stage. Yes, you heard it right, the season of altcoins may be coming, just like the flowers in spring, they are ready to bloom!
Altcoins’ “take-off” signal
Imagine that the altcoin market is like a plane taxiing on a runway. It has remained above the rising trend line, which has been an "old iron" since 2017 and has witnessed the ups and downs of countless cryptocurrencies. Analyst Mags posted on social media that the altcoin market value is testing this long-term trend line, which is like telling us: "Hey guys, I'm ready to take off!"
Is the market ready?
If Bitcoin (BTC) can decisively gain ground and altcoin market cap TOTAL2 can stay above long-term trendline support, the market may indeed be ready for a “big move.” It’s like saying, “It’s time to turn up the volume and turn up the music!”
Bitcoin’s dominance
Speaking of Bitcoin, its dominance has been rising, which is like a "thermometer" of the cryptocurrency market, telling us about investor sentiment and risk appetite. Currently, Bitcoin's dominance has reached a three-and-a-half-year high, which means it is still "Bitcoin season." But don't worry, the spring of altcoins may not be far away.
Signals of an altcoin season
Crypto Banter, the "weather forecaster" in the cryptocurrency world, said that once Bitcoin's dominance drops sharply, the "parabolic" season of altcoins will arrive. Analyst Yoddha believes that Bitcoin's dominance may "squeeze into" an ascending wedge, which is like a signal light for altcoins to rebound.
Altcoin performance
Although the performance of altcoins is not as good as that of Bitcoin, the "big brother", according to data from the Blockchain Center, 29% of the top 50 altcoins have outperformed BTC. This is like saying: "Although we are not the protagonists, we are also working hard to get a role!"
Conclusion:
In this feast of cryptocurrency, every currency has a chance to become a star. So, dear friends in the cryptocurrency circle, stay alert and be prepared, maybe the next "altcoin season" will be the time for you to show your skills!
Tip: Investment is risky, so be cautious when entering the market. This information is not intended as investment and financial advice, we are just sharing some interesting market observations and humorous views.
