Despite a lot of pessimism going around, altseason might be around the corner… Covered: Is Altseason Even A Thing Anymore? TechDev On Altcoin Market Similarities Is Altseason Even A Thing Anymore?  “Wen altseason?” is one of the more popular refrains on CT — Crypto Twitter to the uninitiated. It speaks to both the unease and […] The post Altseason Is Coming, Says Analyst appeared first on CryptosRus.

Altseason Is Coming, Says Analyst

Despite a lot of pessimism going around, altseason might be around the corner…

Covered:

  • Is Altseason Even A Thing Anymore?
  • TechDev On Altcoin Market Similarities

Is Altseason Even A Thing Anymore? 

“Wen altseason?” is one of the more popular refrains on CT — Crypto Twitter to the uninitiated. It speaks to both the unease and ceaseless hope of the space.

There have been several predictions of when altseason will happen. There have also been arguments made that it already happened. But what if altseason is just not a thing anymore?

After all, Bitcoin dominance isn’t what it used to be. Not to mention, altcoin-by-name-only Ethereum is the preferred crypto investment by some on Wall Street. And others like Terra, Cardano, and Solana are making serious inroads market cap-wise. How can we have an altseason where every altcoin pops when they’ve seemingly already popped?

According to TechDev’s analysis of the altcoin market, it looks like altseason is real, and is going to be spectacular. Again.

Recommended: Believe It Or Not, Brian Armstrong Used To Hate Altcoins

TechDev On Altcoin Market Similarities

 

“The last 4 years of the altcoin market have resembled a near-identical structure to the 2014-2016 period,” says TechDev. In other words, so-called “alts” are showing the same trajectory that they did back before the fabled altseason of January 2017.

“We are now retesting the weekly EMA ribbon after reclaiming, and have bounced at the same RSI level as previously. Should the retest hold, the alt market looks poised for a big move soon,” TechDev added.

The question then is if an altseason that resembles 2017 is still possible when all these altcoins are more mainstream than ever? The answer is yes.

Consider how different the market cap charts looked at the end of January 2017 compared to today.

Top 10 Market Cap January 2017
Top Ten Market Cap Week Ending April 10th, 2022

Seven new entries to the top 10 make sense if you consider the aforementioned similar trajectory that TechDev pointed out. It explains how Bitcoin dominance lowering, while the altcoin market growing, can still lead to the possibility of a “big move” from the altcoin market.

Now if four years from now the top 10 is filled with a lot of the same projects as it is right now, then altseason might have to get retired. For now, the numbers are looking in CT’s favor.

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