Altseason Imminent As Crypto Flashes Bullish Signal Witnessed Every Four Years, According to Analyst
A closely followed analyst believes that crypto is gearing up to witness the highly anticipated altcoin season as the market gives off a reading seen only twice in eight years. Pseudonymous analyst TechDev tells his 493,800 followers on the social media platform X that altcoins are poised to outperform Bitcoin (BTC) based on historical data. The crypto strategist shares a chart to show that in 2017 and 2021, altseason happened when Bitcoin printed a new six-month candle after surpassing the cycle’s all-time high. “This has been the candle that altcoins make the moves many wait four years for.” Source: TechDev/X Looking at the trader’s chart, he seems to suggest that it takes 1,280 days after Bitcoin prints a cycle top before altcoins can go on a rampage. When the signal appeared in 2017 and 2021, Bitcoin Dominance (BTC.D) saw sharp declines for one year, giving altcoins a lot of time to outperform BTC. The BTC.D chart tracks how much of ...