How can I identify if a crypto alt season is about to begin?

3 answers

• Dec 27, 2021 · 3 years ago
  One indicator to look for is a significant increase in trading volume for altcoins. This can suggest that investors are shifting their focus from Bitcoin to altcoins, which often happens during an alt season. Additionally, keep an eye on social media and online forums for discussions and hype surrounding altcoins. If you start seeing a lot of buzz and excitement around certain altcoins, it could be a sign that an alt season is on the horizon. Another indicator is the performance of altcoins compared to Bitcoin. If altcoins are outperforming Bitcoin and showing consistent upward trends, it could be a signal that an alt season is about to begin. However, it's important to note that these indicators are not foolproof and the cryptocurrency market can be unpredictable.
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• Dec 27, 2021 · 3 years ago
  When it comes to identifying an alt season, technical analysis can be helpful. Look for patterns such as higher highs and higher lows on altcoin price charts, as this can indicate a bullish trend. Additionally, pay attention to the overall market sentiment. If there is a general positive sentiment towards altcoins and more people are investing in them, it could be a sign of an alt season. However, it's important to do your own research and not solely rely on these indicators as the market can be influenced by various factors.
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• Dec 27, 2021 · 3 years ago
  As an expert at BYDFi, I can tell you that one of the key indicators we look at is the dominance of altcoins in the market. If altcoins start gaining a larger share of the overall market cap, it could be a strong indication that an alt season is about to begin. Additionally, keep an eye on the news and announcements related to altcoins. Positive news such as partnerships, new listings, or technological advancements can often drive the price of altcoins up and contribute to the start of an alt season. However, it's important to remember that alt seasons are not guaranteed and investing in cryptocurrencies always carries risks.
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