Altcoin Season Soon? Ethereum Moons, Alts Hit Snooze
- Altcoin Season Index shows market is far from altseason zone.
- Analyst says altcoins still down 47% against Ethereum since April.
- Bitcoin may need to hit $121K to $135K to trigger full altseason.
Ethereum’s latest surge past important resistance levels has put the crypto market in a positive mood. But investors are asking one big question: is it altseason yet? At the moment, one analyst said that the answer is no.
While Ethereum has broken out and altcoins have seen short-term gains, several indicators show that a true altcoin season is still some distance away.
What Is Altseason and Where Are We Now?
An altseason is when altcoins outperform Bitcoin for a sustained period, often delivering huge percentage gains. One popular measure is the Altcoin Season Index, which looks at the performance of the top 50 altcoins compared to Bitcoin over 90 days.
According to this index, the market is nowhere near altseason. The last time it briefly entered the “altseason zone” was in December, and it only lasted four days before markets turned down sharply. Historically, entering this zone often signals the final stages of an altcoin rally, not the start.
The post Altcoin Season Soon? Ethereum Moons, Alts Hit Snooze appeared first on Coin Edition.
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Altcoin Season Soon? Ethereum Moons, Alts Hit Snooze
- Altcoin Season Index shows market is far from altseason zone.
- Analyst says altcoins still down 47% against Ethereum since April.
- Bitcoin may need to hit $121K to $135K to trigger full altseason.
Ethereum’s latest surge past important resistance levels has put the crypto market in a positive mood. But investors are asking one big question: is it altseason yet? At the moment, one analyst said that the answer is no.
While Ethereum has broken out and altcoins have seen short-term gains, several indicators show that a true altcoin season is still some distance away.
What Is Altseason and Where Are We Now?
An altseason is when altcoins outperform Bitcoin for a sustained period, often delivering huge percentage gains. One popular measure is the Altcoin Season Index, which looks at the performance of the top 50 altcoins compared to Bitcoin over 90 days.
According to this index, the market is nowhere near altseason. The last time it briefly entered the “altseason zone” was in December, and it only lasted four days before markets turned down sharply. Historically, entering this zone often signals the final stages of an altcoin rally, not the start.
The post Altcoin Season Soon? Ethereum Moons, Alts Hit Snooze appeared first on Coin Edition.
Read More