The crypto market is undergoing significant changes following Donald Trump's election victory. Bitcoin (BTC) reached a record high of $89,956, with analysts speculating about the potential start of an altcoin season.
Is a New Altcoin Season Approaching?
Prominent crypto analyst Cryptojack highlighted that altcoins are taking turns leading the market, suggesting that a new altcoin season might be near. His analysis indicates that this tends to happen after significant declines in Bitcoin's dominance.
Bitcoin's Dominance Period and Outlook
According to Cryptojack's analysis, after Bitcoin's price surges for approximately 1065 days, the market often switches to altcoins. In previous cycles, these leadership changes occurred about 330-340 days post-Bitcoin's peaks, such as in 2018 and 2022. Currently, we are nearing the end of another Bitcoin dominance phase lasting 1,066 days, hinting at a new 'altcoin season.'
Is Altcoin Season Still Far Away?
Meanwhile, well-known crypto analyst Miles Deutscher argues that the true altcoin season is still distant. He describes the current situation as just a 'warm-up' for a more significant altcoin growth period. Deutscher believes that the Altcoin Season Index, now at 33, must reach 75 to indicate the start of a true altcoin season.
The crypto market awaits potential shifts, with experts keenly watching developments. Whether it's the true start of an altcoin season or just another phase, investors should remain vigilant.
