Analytics Firm Says “Altcoin Season Is Coming” and Adds: “However, There Is Still...”

Cryptocurrency analysis platform Alphractal made important observations about the “altcoin season” that investors have been eagerly awaiting in its latest market assessment. According to the company’s data, market dynamics currently still point to the “Bitcoin season.”The Altcoin Seasonality Index, used by Alphractal, has revealed that only a few altcoins have outperformed Bitcoin based on performance over the past 60 days. These exceptional altcoins are usually new entrants to the market. In contrast, altcoins that have been around for a long time continue to perform poorly.The Bitcoin vs. Altcoin Position Index, included in the platform’s analysis, provides a visualization of the dominant forces in the market. According to the company’s statement, orange zones indicate that Bitcoin is dominant, blue zones indicate that altcoins are gaining strength, and signal-free zones indicate that it may be the best strategy to stay away from both sides.Chart showing the altcoin seasonal index shared by Alphractal.Related News: Analysts Assess the Effect of Softening US Inflation Data on the Likelihood of a Fed Rate Cut and Bitcoin! Here Are the DetailsAccording to the current picture, the market is clearly in a Bitcoin season, as Alphractal puts it. However, it is stated that an official altcoin season may begin in the coming days as the signals disappear or turn in favor of the altcoin.The company notes that historically, altcoins have generally outperformed Bitcoin during periods when it has been in a short-term decline or trending sideways.*This is not investment advice. Continue Reading: Analytics Firm Says “Altcoin Season Is Coming” and Adds: “However, There Is Still...”