Hold onto your hats, crypto fam! The CoinMarketCap Altcoin Season Index just hit 16, and that’s… well, it’s HUGE! For those not in the know, this index is a ridiculously useful tool. It basically tells us how many of the top 100 cryptocurrencies are absolutely killing it compared to Bitcoin’s performance.
Photo source:www.binance.com
Right now, a solid 16 out of the top 100 alts have outperformed Bitcoin over the last 90 days. That’s a serious indication we might be entering an altseason, where the real money is made! Let’s be honest, watching Bitcoin pump is cool and all, but the real gains happen when smaller coins start to moon.
What exactly is an Altseason? (A quick explainer for the newbies)
An altseason is a period where alternative cryptocurrencies (altcoins) significantly outperform Bitcoin. It’s a rotational market dynamic.
This typically happens after Bitcoin has had a substantial run-up. Investors then start looking for the next big thing.
Historically, an index reading of 7 or higher is considered the starting point of an altseason, but the strongest signals appear above 10. We’re at 16 people!
Now, don’t go throwing your life savings into Dogecoin just yet. Do your research. This isn’t financial advice, alright? But keep a very close eye on those smaller projects. Some serious opportunities are brewing, and I, for one, am incredibly excited to see how things unfold. Buckle up, it’s gonna be a wild ride!
