Why hasn't there been an Altcoin Season yet?
Everyone wants to know when the next alt-season is coming...
Well I am right there with them!
My guess is that we won't see the next alt-season until we see bitcoin make new highs and then consolidate.
Why do I think that?
Well, for starters, that is exactly how it played out the last time!
The cycle...
We didn't have that massive altcoin rally until the end of the bull market cycle.
That cycle started in 2015 and peaked in early 2018, with a bitcoin halving in 2016.
This time around, the cycle is starting in 2019 and likely won't peak until 2021 or so.
Though, I think bitcoin prices likely make new highs long before that.
It will be interesting to see if we get an altcoin season when bitcoin makes a new high and then consolidates or at the end of the bull market cycle when bitcoin starts to roll over after peaking...
Why does it work out like this?
Most likely it has to do with the euphoric period in bitcoin.
When bitcoin starts making new highs and going parabolic, it gets tons of media attention. That media attention attracts all kinds of new investors into the market, specifically the retail kind.
These new investors, feeling they mostly missed the move in bitcoin, buy up the altcoins hoping to catch the next one to have a bitcoin-like move.
This helps give them a bid.
Then as bitcoin starts to pullback/consolidate after making new highs, some of that money moves out into altcoins.
Bitcoin's market cap is so much larger than many of the alts that it only takes a fraction of the money in bitcoin diversifying out into altcoins to really get them running.
This time period is when altcoins often go up by many multiples and is affectionately known as "altcoin season".
TLDR:
Altcoins will most likely have their biggest run after bitcoin makes new highs, gets tons of press, and then consolidates.
It's at this point, tons of new money will come into altcoins as well as money coming out of bitcoin while it consolidates.
Hopefully this helps some of you out there wondering when/if we are ever going to see an altcoin season again.
Stay informed my friends.
Image Source:
https://themerkle.com/what-is-altcoin-season-and-why-does-it-matter/
-Doc
I hope so! I'm really looking forward to seeing altcoins gain traction.
Yep, we are getting close to altcoin season again, just need bitcoin to make new highs.
Alts are a real snooze at best and, with the exception of a handful, real losers at worst. As soon as I think something is looking attractive and I buy, I get hit up the side of the head with a 20% drop. It doesn't take too many times of that happening for me to get the point keep my wallet closed for now.
Probably a good idea for now. Once you see altcoin season starting you can probably jump in then.
At least football season is coming 😁
Ready to defend my fantasy football title!
Lets hope that Steem will be one of the coins that will raise with the next alt coin season. If Steem gets lost in the next Bullrun and eventually kicked out of the Coinmarketcap 100 than this would be a really bad sign for the whole Steem Ecosystem.
Yep, I agree completely. At some point they are going to need to start caring about steem's rank on CM if they want to ensure it participates in the next altcoin season. The last time this happened it included most coins within the top 200-300. Not sure it will include that many this time around though... it may be more selective this time around. However, the higher the coin is on that list, the more likely it is to be included.
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Thanks.
I think there's like a 25% chance that altcoins get some love before the end of summer. If not, I imagine the winter bull run is going to get pretty intense... although the really really big one might be 2021 (a year after Bitcoin halfening).
I still kinda want to get some more Litecoin because the halfening is right around the corner and I think this latest Bitcoin crash has potentially made it a bit more oversold than it normally would be. That's a hard call to make though considering it's already gone like x6 from it's local low.
I loaded up on ltc recently. I think it gets up near $200 around its halving.
We hope for the best, I honestly can't wait to see alt coins moon up. BTW, I try to post more blockchain and bitcoin-related articles, you could visit my blog at your leisure. ;)
Yes, I also look forward to the next altcoin rally. It's been too long.
Awesome! BTW, can we converse on discord? If yes pleased drop your discord handle and number here, or better still i'll drop mine so you can go ahead and send me a request. King-oghie#9930
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Do you think that after HF21 the steem increases its value? at least $ 1? @jrcornel
I am not sure. Perhaps it will, but I don't think it happens right after the HF. Overall i am not a fan of the HF to be honest. I think there are some good things, but also some not so good parts to it.
I think the same, but STEEM is far behind and needs to wake up already! What would make it rise in value?
I do not know what can make it go up, because to be honest after the creation of dapps, SMT has not happened at all. Every day we descend more positions and the currency is falling. Sometimes it is exasperating
Yep. A lot of people feel that way.
I wish I had the answer. I have some ideas though...
https://steemit.com/steem/@jrcornel/a-higher-steem-price-in-a-few-wishful-steps