Alt Season” is the part of the overarching cryptocurrency market cycle where many altcoins “moon” (go up quickly in price) against the dollar and Bitcoin at once (for example, late December 2017 – early January 2018).
In general, altcoins tend to be in a perpetual state of bearishness or stagnation, either hovering in price or going down. Then, once in a while, an alt or two will catch an uptrend or epic run (generally a pump). However, every so often (like once or twice a year if we are lucky) all alts will “moon” at once or in quick succession for an extended period (for example a week, a few weeks, or even a month or two).
This period in which all altcoins are running together is sometimes called alt season by cryptocurrency traders/investors on social media.
When alt season occurs altcoins tend to outperform Bitcoin and the Dollar. If you are looking for early signs of alt season, look to the price action of the top alts like Ripple and Ether (subject to change). You can also generally look for a divergence in the market cap of Bitcoin and alts
Bitcoin price ended quarter 3 with some strong consolidation at $43k. Quarter 4 is expected to have some series moments for the whole crypto market. However, the most valued asset resumed its journey with a bullish candle on the very 1st day of the quarter. Also, altcoins breaking out through BTC pair. Hence, not only the flagship asset is bullish but other altcoins too are doing great with massive gains on day one.
On 1st October 2021, the BTC price broke at $43,900 surging to $47,604. The BTC price is expected to surge above $50k with continue in the uptrend. On the flip side, the asset has a major support level at $43,100. Ethereum seems to be retesting its support level near $3,100. Successful breakout would result in ETH price reaching the next resistance level at $3,600. ETH/BTC pair is trading at 0.0695 satoshis if Bitcoin shows strong consolidation then Ethereum and other altcoins would boom resuming Altseason.
According to Coinmarketcap Altcoin market with Bitcoin dominance is trending. If the number one asset’s dominance falls well below 40% in the coming days, Altcoins may show some strength soon. In January the altseason resulted in a massive surge of market cap from $290 million to $1.3 trillion. The total market cap of other altcoins excluding bitcoin stands at $1.17 trillion at the press time. It is expected to reach $2 trillion in quarter 4.